Transaction marks the Firm’s 22nd CLO
DENVER, COLORADO, November 16, 2023 — ArrowMark Partners, $21.4 billion Denver-based asset manager, today announced the closing of a $350 million U.S. broadly syndicated collateralized loan obligation (CLO), ArrowMark Elevation 2023-17. This close represents the Firm’s 22nd CLO across $8.2 billion in issuance.
“ArrowMark has a strong track record as an active and consistent issuer in the CLO market. The issuance of Elevation 2023-17 represents ArrowMark’s commitment to the expansion of our leveraged finance platform and is a testament to the team’s ability to execute in this low issuance environment,” said Sanjai Bhonsle, Co-Portfolio Manager of ArrowMark’s Leveraged Loan strategy. “Amid the continued market uncertainly, we are pleased about our investors’ continued confidence in ArrowMark’s CLO offerings.”
The deal was arranged by Goldman Sachs and has a two-year non-call period and a market standard five-year reinvestment period. A majority of the equity will be funded through ArrowMark CLO Equity Strategic Partners Fund LP, which held its final close June 2023. ArrowMark was pleased to receive broad participation from both existing and new investors.
About ArrowMark Partners
ArrowMark Partners is an employee-owned investment management firm founded in 2007. Today, ArrowMark manages $21.4 billion in assets on behalf of a broad array of institutional clients and professional asset allocators across public and private equity, structured credit, and commercial real estate finance investment strategies, as well as through the management of broadly syndicated and middle-market CLO funds. ArrowMark is headquartered in Denver, Colorado with additional presence in California, London, and New York.
1ArrowMark AUM includes commercial real estate (“CRE”) assets, including real estate related assets originated and/or currently managed or advised by ArrowMark or its affiliate.