Golub Private Debt CLO Offers Insurers a Rare Duration Play (1)

Private credit firm Golub Capital sold a collateralized loan obligation that locks investors into the securities for longer than typical deals, as insurers pour money into private credit in their search for longer-held assets.

Golub recently priced a roughly $427 million CLO containing debt investments in middle-market companies.

The deal locks investors into original terms for eight years, compared to the usual two-year non-call period for CLOs. The manager of the CLO also has 10 years to replace loans that are repaid early, longer than standard five-year periods.

The deal marks the first long duration CLO since the 2008 financial ...