CVC Raises €400 Million European Leveraged Loans Fund

CVC Credit Partners Investment Management Ltd has completed raising a €400 million European leveraged loan fund, the firm said in an interview, as the private equity shop seeks to take advantage of continued volatility to snap up corporate debt.

Cordatus Opportunity Loan Fund is intended to be a long-term financing facility, and has already acquired €175 million in assets, some of them when the UK’s October mini-budget sent loan prices tumbling. The loans the fund already hold were acquired at an average 91.9% discount to their face value, said CVC director Kevin Wong, noting that the fund was set up ...