3i closes its third CLO of 2014: Jamestown IV

26 Jun 2014

3i, an international investor, announces it has closed a collateralised loan obligation (“CLO”) fund, Jamestown CLO IV (“Jamestown IV”). This will be the fifth CLO raised by 3i Debt Management US (“3iDM US”) since the business was established in 2012.

The total size of the CLO is US$617.5 million.  The fund will focus on investing in US corporate debt and in senior secured loans backing private equity buyouts in the US.

Jeremy Ghose, CEO and Managing Partner of 3i Debt Management said: “This is our second US CLO this year, following the $416m raised in Q1. This has been possible thanks to the strong relationships held by our team with a range of market participants.”

John Fraser, Managing Partner 3iDM US, commented: “We are pleased to have closed our second CLO in the US this year as we continue to see strong demand from our investors.”

3i Debt Management has grown substantially since it was established in 2011. At 31 March 2014 3iDM managed 28 funds and had total assets under management of approx. $11 billion, on a pro forma basis.

 

For further information, contact:

3i
Kathryn van der Kroft
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

 

Notes to editors:

Jamestown IV

The transaction has a four year reinvestment period and a non-call period of two years.] The capital structure is as follows:

Tranche Size (US$m) Rating (Moodys/Fitch) Coupon
A-1A 257.0 Aaa/AAA LIBOR + 150
A-1L 50.0 Aaa/AAA LIBOR + 135
A-1C 77.0 Aaa/AAA LIBOR + 143
A-2 73.8 Aa2/NR LIBOR + 200
B 26.4 A2/NR LIBOR + 280
C 36.0 Baa3/NR LIBOR + 350
D 33.6 Ba3/NR LIBOR + 500
E 5.4 B2/NR LIBOR + 525
SUB 58.3 NR/NR -

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity, Infrastructure and Debt Management across Europe, North America and Asia. For further information, please visit: www.3i.com.

About 3i Debt Management

3i Debt Management, which was founded through the acquisition of Mizuho Investment Management in February 2011, specialises in the management of third-party funds investing in corporate debt issued by medium and large European and US companies.