PPM America’s sixth CLO fund raises $300 million in funding.

PPM America, a subsidiary of UK-based Prudential plc, has announced the successful closing of its sixth collateralized loan obligation (CLO) fund, raising $300 million in funding. The fund, named PPM America Capital Partners VI, will invest in a diversified portfolio of senior secured loans issued by middle-market companies in North America.

CLOs are structured investment vehicles that pool together a portfolio of loans and issue securities backed by the cash flows generated by those loans. The securities are sold to investors, who receive regular interest payments and principal repayments as the loans are repaid. CLOs have become increasingly popular in recent years as investors seek higher yields in a low-interest-rate environment.

PPM America’s latest CLO fund is the sixth in a series of successful funds that have been launched since 2005. The firm has a long track record of investing in middle-market loans, and its CLO funds have consistently delivered strong returns to investors.

According to PPM America’s Head of Structured Credit, Michael Ewald, “We are pleased to have closed our sixth CLO fund, which reflects the continued demand for our investment strategy and the strength of our team. We believe that the middle-market lending space offers attractive opportunities for investors, and we are well-positioned to capitalize on those opportunities.”

The PPM America Capital Partners VI fund will invest primarily in senior secured loans issued by middle-market companies with annual revenues between $50 million and $1 billion. The loans will be diversified across a range of industries, including healthcare, technology, and consumer products.

PPM America’s CLO funds have been successful in part because of the firm’s rigorous underwriting process. The firm’s credit analysts conduct extensive due diligence on each loan, assessing the borrower’s financial strength, industry dynamics, and other factors that could impact the loan’s performance.

In addition to its CLO funds, PPM America also manages a range of other investment strategies, including private equity, real estate, and public fixed income. The firm has more than $130 billion in assets under management and is one of the largest investment managers in the United States.

Overall, PPM America’s latest CLO fund is a testament to the firm’s expertise in middle-market lending and its ability to deliver strong returns to investors. As the demand for higher-yielding investments continues to grow, it is likely that CLOs will remain an attractive option for investors seeking to diversify their portfolios and generate income.

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