NEW YORK--(BUSINESS WIRE)--Z Capital Credit Partners, L.L.C. ("ZCCP"), the credit fund management platform of Z Capital Group, L.L.C. ("ZCG"), today announced the closing of a $331.3 million collateralized loan obligation (“CLO”) managed by its affiliate, Z Capital CLO Management, L.L.C. ("Z Capital CLO Management"). This is the fifth CLO issuance for ZCCP.
Backed by a diversified portfolio of broadly syndicated senior secured loans, the CLO vehicle will have a 2.5-year non-call and a four-year reinvestment period and is structured to comply with European risk retention regulations. The CLO offering garnered substantial support both from existing and new investors across the capital structure.
“With a 30-year track record of investing in credit markets and structured products across multiple economic cycles, our extensive experience positions us as a leading player in the market,” said James Zenni, Founder, President, and Chief Executive Officer of ZCG. “The substantial investor support for our fifth CLO underscores the strong performance of our credit platform and our demonstrated ability to successfully navigate market complexities.”
Shahid Khoja, Managing Director and Head of Credit at ZCCP, added, “We are appreciative of the support this transaction received from a wide range of investors and we are focused on continuing to grow and scale this business rapidly as we seek to generate attractive risk-adjusted returns for our investors.”
Santander US Capital Markets acted as the arranger for the CLO. Cadwalader, Wickersham & Taft LLP acted as legal advisor to ZCCP.
About ZCG
ZCG is a leading, privately held merchant bank comprised of private markets asset management, business consulting services, technology development and solutions.
For almost 30 years, ZCG Principals have invested tens of billions in capital and have industry leading track records in private equity and credit.
ZCG has approximately $7B of AUM in asset management and its investors are some of the largest and most sophisticated global institutional investors including pension funds, endowments, foundations, sovereign wealth funds, central banks, and insurance companies.
ZCG has a global team comprised of over 400 professionals. For more information, please visit www.zcg.com.
About ZCCP
Z Capital Credit Partners, L.L.C. ("ZCCP") is the credit fund management platform of ZCG that has industry leading returns. ZCCP invests across a range of credit investments including leveraged loans, private debt, direct lending, and opportunistic stressed credit. ZCCP manages closed and open-ended funds as well as structured vehicles for strategic debt.
ZCCP utilizes an approach of fundamental credit analysis, developed over nearly 30 years, through proprietary sourcing, sophisticated structuring and comprehensive risk management, utilizing the Olympus™ system.
For almost 30 years, ZCCP Principals have deployed approximately $26 billion in numerous industries.