TCW Closes $400 Million CLO

August 16, 2023 at 13:45 PM EDT

The TCW Group, a leading global asset management company, today announced that it has closed a $400 million Collateralized Loan Obligation (CLO) fund, TCW CLO 2023-2, Ltd., which is secured primarily by broadly syndicated first lien loans.

CLOs are managed within TCW’s $70 billion integrated global credit platform, and this CLO will be managed by Senior Portfolio Managers Drew Sweeney and Ken Toshima.

“CLOs and loans broadly are an important area of growth for TCW, and we are committed to continuing to enhance our leveraged finance franchise as part of our broad offering of world-class fixed income products,” said Katie Koch, President and Chief Executive Officer of TCW. “Over the past few years, we have continued to invest in our credit capabilities across the capital structure through the addition of top talent in both research and trading.”

As previously announced, TCW recently entered into a strategic CLO equity investment partnership with Lakemore Partners Ltd., a leading private credit investment firm, to support the growth of TCW’s CLO platform.

“TCW CLO 2023-2 represents TCW’s 10^th actively managed CLO, and we plan to prioritize loans and dedicate resource to ensure that the TCW loan platform obtains top tier status in the marketplace,” said Sweeney. “We were pleased to have had the opportunity to ramp collateral during the last several months, and are grateful for the confidence investors continue to place on our disciplined process and approach.”

Jefferies LLC served as placement agent and structuring agent.

About The TCW Group

TCW is a leading global asset management firm with a broad range of products across fixed income, equities, emerging markets and alternative investments. With half a century of investment experience, TCW today manages approximately $210 billion in client assets. Through the MetWest Funds and TCW Funds families, TCW manages one of the largest mutual fund complexes in the U.S. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit www.tcw.com.