New Credit Loan Obligation (CLO) valued at €400 million announced by CVC Credit
CVC Credit's Liquid Credit Strategy Shows Resilience Amid Market Volatility
In the face of market volatility, CVC Credit, a specialist credit asset management firm within the broader CVC Capital Partners group, has demonstrated resilience with its liquid credit strategy. This strategy has continued to show activity throughout 2025.
New €400m CLO Launched
One of the highlights of CVC Credit's year is the launch of a new €400m (£348.1m) collateralized loan obligation (CLO) named Cordatus XXXVI. Guillaume Tarneaud, partner and co-head of global liquid credit at CVC, expressed satisfaction about another new issue CLO in 2025 despite market volatility.
Active in the Market
The liquid credit strategy at CVC has been consistently active in the market, pricing transactions throughout the year. In fact, as of July, the strategy has priced transactions totaling approximately $16.2bn (£12.9bn) since the start of the year. The successful pricing of Cordatus XXXVI marks the fifth new issue CLO of 2025 for CVC Credit.
Increased Transaction Volume
CVC's liquid credit strategy has seen an increase in transaction volume in 2025 compared to the same period in previous years. The strategy has been active in more than 34 transactions since the start of the year, with more than 17 transactions in 2025 alone.
Strong Performance
The strong performance of CVC's liquid credit strategy is evident in the more than €30bn (£26.1bn) in assets it manages across more than 70 active funds as of July. Natixis served as the lead arranger for Cordatus XXXVI.
Robust Risk Management
The stable rating by Fitch Ratings of CVC Credit Partners European Direct Lending Fund III (Levered) SCSp in July 2025, indicating ongoing robust activity and investor confidence in their CLO and lending structures, further underscores the strength of CVC's risk management.
Looking Ahead
CVC's Liquid Credit business continues to demonstrate resilience and adaptability in the face of market volatility. With a reinvestment period for Cordatus XXXVI of four and a half years and a one-and-a-half-year non-call structure, the strategy is well-positioned for continued success in the future.
[1] Fitch Ratings Affirms CVC Credit Partners European Direct Lending Fund III (Levered) SCSp at 'BBB' with Stable Outlook (Link)
[2] CVC Capital Partners: Overview (Link)
The launch of the new €400m CLO, Cordatus XXXVI, is one of the highlights of CVC Credit's year, demonstrating the active role of their liquid credit strategy in the market and further showing their resilience amid market volatility. The strong performance of this strategy is evident in the more than €30bn in assets it manages, illustrating the robust risk management practices at CVC Credit Partners.
%20valued%20at%20%E2%82%AC400%20million%20announced%20by%20CVC%20Credit){kind=link}