Sycamore Tree Capital Partners, an asset manager with private and alternative investment experience, has closed STCP CLO 2023-3 Ltd., the firm’s third collateralized loan obligation since inception and its second CLO in 2023.
STCP CLO 3 totals $401 million. The fund has a three-year reinvestment period and a one-year non-call period. Having launched four investment strategies to date, Sycamore Tree’s total AUM (assets under management) is now approximately $1.6 billion.
“CLO 3 continues our focus on higher quality, more liquid, broadly syndicated US loans across a wide range of industries,” comments Trey Parker, chief investment officer. “Our focus on capital preservation is well suited to current market conditions and given our access to committed CLO equity capital, we expect to be a disciplined, consistent new issuer.”
Goldman Sachs acted as the fund’s underwriter, and Dechert LLP acted as counsel to Sycamore Tree.