AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

MidOcean Credit Partners Announces Closing of 10th CLO Valued at $400 Million

December 2, 2019 GMT

NEW YORK--(BUSINESS WIRE)--Dec 2, 2019--

MidOcean Credit Partners, an affiliate of MidOcean Partners, a premier New York-based alternative asset manager, announced the closing of a $400 million collateralized loan obligation (“CLO”) MidOcean Credit CLO X, on November 29, 2019 in a transaction led by Barclays. This transaction is MidOcean’s tenth CLO and the firm’s first CLO structured to include ESG parameters. Specifically, MidOcean Credit CLO X’s concentration limits prohibit investments in obligors whose principal business is directly derived from pornography, the production of tobacco, the production or marketing of controversial weapons, or the development of nuclear weapons programs.

Jim Wiant, Senior Portfolio Manager at MidOcean Credit Partners, said, “The successful closing of our 10th CLO demonstrates our strong capability to continue to structure transactions that meet the demands of our investors. Our CLO platform is focused on generating robust performance across our CLOs both in terms of overall portfolio credit quality and our ability to deliver attractive equity distributions with modest credit risk.”

MidOcean has closed ten CLOs totaling approximately $4.4 billion since the inception of the CLO platform in January 2013. MidOcean has continued to bolster its credit business in recent months with the hiring of a new Chief Investment Officer (“CIO”) Dana Carey, and an additional CLO Portfolio Manager, Adrienne Dale, as the firm looks to scale the overall platform.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191202005675/en/

CONTACT: MidOcean Media Relations

Nathaniel Garnick/Amanda Klein

Gasthalter & Co.

212/257-4170

midocean@gasthalter.comMidOcean Investor Relations

Allison Donohue

Investorrelations@midoceanpartners.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: MidOcean Credit Partners

Copyright Business Wire 2019.

PUB: 12/02/2019 12:00 PM/DISC: 12/02/2019 12:00 PM

http://www.businesswire.com/news/home/20191202005675/en