3i closes Harvest XVI, its second European CLO of the year
3i Group plc (“3i” or “3i Group”) today confirms the closing of a €452 million collateralised loan obligation (“CLO”) fund, Harvest XVI CLO (“Harvest XVI”).
3i Group plc (“3i” or “3i Group”), an international investment manager, today confirms the closing of a €452 million collateralised loan obligation (“CLO”) fund, Harvest XVI CLO (“Harvest XVI”).
Harvest XVI is the second European CLO that 3i has closed in 2016. It will principally focus on investing in senior secured loans backing private equity buyouts in Europe. The vehicle will have a final legal maturity of October 2029.
Jeremy Ghose, CEO and Managing Partner of 3i Debt Management said:
“We are pleased to have successfully closed Harvest XVI, our second European CLO this year. Since the CLO market reopened in Europe in 2013 we have raised €3.8 billion across nine CLOs. Our ability to continue to grow AUM despite the challenging macro and market conditions is a reflection of the quality of our platform.”
At 31 March 2016, 3i DM managed 39 funds and had total assets under management of approximately $11.6 billion.
For further information, contact:
3i Group plc
Tel: +44 20 7975 3021
Tel: +44 20 7975 3027
Notes to editors:
About 3i Group
3i is an investment company with three complementary businesses, Private Equity, Infrastructure and Debt Management, specialising in core investment markets in Northern Europe and North America. For further information, please visit: www.3i.com