AXA IM Alts closes European CLO, Adagio EUR CLO IX, with €400million
AXA IM Alts, a global leader in alternative investments with c. €163 billion of assets under management, announces the successful close of an approximate €400 million collateralised loan obligation (CLO), known as Adagio EUR CLO IX.
Adagio EUR CLO IX closed on 2nd September, driven by strong appetite from a range of new and existing investors in Europe and the US. The CLO has a reinvestment period of four and a half years, with a non-call period of two years.
Yannick Le Serviget, Global Head of Leveraged Loans and Private Debt at AXA IM Alts commented: “We are pleased to announce the successful close of Adagio EUR CLO IX following its pricing at the end of July 2021. The global CLO market hit the $1tn milestone in August as a result of attractive yield premiums that have continually driven investment into the space.
“Over the past few years, the CLO market has matured and developed, resulting in a deepening of the institutional buyer base in Europe. The asset class has performed well against the volatile market backdrop and investors are increasingly confident with the robustness of the asset class. In addition, new interest from first-time CLO buyers has emerged in Europe and we expect to see investor demand continue as the European economy recovers and CLOs continue to offer a significant yield premium in comparison to other credit instruments.”
The Adagio CLO is managed by AXA IM Alts’ Structured Finance team, which manages over €52 billion ($61 billion) in global assets across the non-traditional credit spectrum. AXA IM Alts now manages c. €12 billion ($14 billion), across its leveraged loans & private debt platform globally.
For more than 20 years , AXA IM Alts Structured Finance has provided bespoke solutions and investments in alternative credit and structured finance for large investors. It originates opportunities across the alternative credit spectrum aiming to provide clients with opportunities for sourcing, diversification and spread pick-up.
- ENDS -
1. Source: AXA IM Alts unaudited data, as of 30th June 2021
2. Source: AXA IM Alts unaudited data
AXA IM Alts
Jocelyne Tamssom, Head of Communications
Pauline Mauvenu, Communication Officer
Tel: + 33 (0)1 44 45 96 62 / +33 (0)1 44 45 89 84
FTI Consulting Inc.
Cat Stirling, Erica Lewis, Samuel Grant
Tel: +44 7753 302 269
About AXA IM Alts
AXA IM Alts is a global leader in alternative investments with €163 billion of assets under management (1) as of 30 June 2021, across real assets (real estate & infrastructure), private debt & alternative credit and private equity & hedge funds. AXA IM Alts employs over 750 people located in 16 offices around the world and serves the needs of more than 350 clients from Europe, North America, Asia Pacific and Middle East. We are a global leader in real assets investment with c. €110 billion of assets under management, the number one property portfolio and asset manager in Europe (2), and one of the largest worldwide.
1 Source: AXA IM data (unaudited). All figures as of 30 June 2021.
2 Source: INREV Fund Manager Survey, June 2021. #1 largest European managers in total real estate assets under management.
About AXA Investment Managers
AXA Investment Managers (AXA IM) is a responsible asset manager, actively investing for the long-term to help its clients, its people and the world to prosper. Our high conviction approach enables us to uncover what we believe to be the best global investment opportunities across alternative and traditional asset classes, managing approximately €866 billion in assets as at the end of June 2021.
AXA IM is a leading investor in green, social and sustainable markets, managing €568 billion of ESG-integrated, sustainable and impact assets as at the end of June 2021. We are committed to reaching net zero greenhouse gas emissions by 2050 across all our assets, and integrating ESG principles into our business, from stock selection to our corporate actions and culture. Our goal is to provide clients with a true value responsible investment solution, while driving meaningful change for society and the environment.
AXA IM employs over 2,440 employees around the world, operates out of 27 offices across 20 countries and is part of the AXA Group, a worldwide leader in insurance and asset management.
Visit our websites https://realassets.axa-im.com and www.axa-im.com
Follow us on Twitter @AXAIMAlts and @AXAIM
This document is aimed solely at the media and is for information purposes only. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds or an offer of financial services. This press release is as dated. They do not necessarily represent the views of any company within the AXA Investment Managers Group and this statement does not entail any liability for any company with the AXA IM group that does not manage the fund. This statement may be subject to change without notice. This does not constitute a Financial Promotion as defined by the Financial Conduct Authority. This is for information purposes only. No financial decisions should be made on the basis of the information provided. Past performance is not necessarily representative of future results: performance is not constant over time and the value of investments may fall as well as rise.
Not for Retail distribution: This document is intended exclusively for Professional, Institutional, Qualified or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly.
This promotional communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.
Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision.
Before making an investment, investors should read the relevant Prospectus and the Key Investor Information Document / scheme documents, which provide full product details including investment charges and risks. The information contained herein is not a substitute for those documents or for professional external advice.
The products or strategies discussed in this document may not be registered nor available in your jurisdiction. Please check the countries of registration with the asset manager, or on the web site https://www.axa-im.com/en/registration-map, where a fund registration map is available. In particular units of the funds may not be offered, sold or delivered to U.S. Persons within the meaning of Regulation S of the U.S. Securities Act of 1933. The tax treatment relating to the holding, acquisition or disposal of shares or units in the fund depends on each investor’s tax status or treatment and may be subject to change. Any potential investor is strongly encouraged to seek advice from its own tax advisors.
Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ.
In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.