European Firm Permira Enters US CLO Market as Issuance Booms

European buyout firm Permira is debuting its first deal in the $1 trillion US collateralized loan obligation market, as deals near an issuance record.

The investment firm priced the $430.6 million deal on Friday, according to a person with knowledge of the matter. CLOs, the largest buyers of leveraged loans, repackage this debt into securities of varying risk and size. The offering, arranged by JPMorgan Chase & Co., is part of Permira’s effort to grow its footprint in the US through such vehicles, said the person, who asked not to be identified discussing private information.

A representative for Permira declined ...