3i closes Jamestown VIII, a $504m CLO
3i, an international investment manager, confirms the closing of a collateralised loan obligation (“CLO”) fund, Jamestown VIII (“Jamestown VIII”) in December 2015.
Jamestown VIII, a $504.25 million CLO, was 3iDM’s third US CLO of 2015.
Jamestown VIII 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:
“Our core CLO business continues to show growth with six CLOs closed in 2015 across Europe and the US. Through these CLOs and the 3i Global Floating Rate Income Fund, we raised circa $3.2bn of AUM globally in 2015.”
John Fraser, Managing Partner 3iDM US, commented:
“Jamestown VIII is the third US CLO we closed in 2015, bringing our total raised to over $1.7bn in the US.”
At 30 September 2015, 3iDM managed 35 funds and had total assets under management of approx. $11.3 billion.
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For further information, contact:
3i Group plc
Kathryn van der Kroft
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Jamestown VIII
The fund has a 4 year investment period and a non-call period of 2 years. The capital structure is as follows:
| Class | Par amount (US$m) |
Expected rating (Moody’s/Fitch) |
Coupon |
|---|---|---|---|
| A-1A | 315.8 | Aaa/AAA | L + 152 |
| A-1B | 7.5 | Aaa/AAA | 3.15% |
| A-2A | 30.2 | Aa2/AA | L + 240 |
| A-2B | 30 | Aa2/NR | 4.25% |
| B | 29 | A2/NR | L + 335 |
| C | 31.25 | Baa3/NR | L + 475 |
| D-1 | 10 | Ba3/NR | L + 825 |
| D-2 | 10.5 | Ba3/NR | L + 675 |
| E | 5 | B3/NR | L + 800 |
| Subs | 35 | NR/NR | Subject |
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.