3i closes Jamestown VI
3i, an international investment manager, today confirms the closing of a collateralised loan obligation (“CLO”) fund, Jamestown VI (“Jamestown VI”). Jamestown VI is a $750 million CLO and 3iDM’s first US CLO of the year.
Jamestown VI will principally focus on investing in US dollar denominated senior secured loans issued by sub-investment grade rated U.S domiciled companies.
Jeremy Ghose, CEO and Managing Partner of 3i Debt Management said:
“We have continued to see appetite from investors in the early part of 2015 and are pleased to have raised our first US CLO fund of 2015. Jamestown VI is our biggest CLO to date and we continue to benefit from strong investor following.”
John Fraser, Managing Partner 3iDM US, commented:
“Jamestown VI is our first US CLO this year and we were pleased with the support from both debt and equity investors which enabled us to upsize the fund to $750m.”
3i Debt Management has grown substantially since it was established in 2011. At 30 September 2014 3iDM managed 32 funds and had total assets under management of approx. $11 billion, on a pro forma basis.
-Ends-
For further information, contact:
3i Group plc
Kathryn van der Kroft
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Latika Shah
Tel: +44 20 7975 3157
Email: latika.shah@3i.com
Jamestown VI
The fund has a 4 year investment period and a non-call period of 2 years. The capital structure is as follows:
| Class | Par amount US$m) |
Expected rating (Moody’s/Fitch) |
Coupon | |
| A1 | 410 | Aaa/AAA | L + 160 | 160 |
| A1b | 70 | Aaa/AAA | 3.163% | |
| A2 | 89 | Aa2 | L + 250 | 250 |
| B | 35 | A2 | L + 350 | 360 |
| C | 47 | Baa3 | L + 325 | 450 |
| D | 38.75 | Ba3 | L + 475 | 690 |
| E | 7 | B2 | L + 525 | 870 |
| Equity | 63.05 |
Notes to editors:
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 specialises in the management of third-party funds investing in corporate debt issued by medium and large European and US companies.