The debt management division of London investment firm 3i has closed a collateralized loan obligation fund with $411 million in commitments.

The CLO is 3i's third U.S. CLO this year. The new CLO, called Jamestown V, has $348 million of investment-grade debt in five classes, plus $63 million in non-investment grade mezzanine and subordinated notes. The CLO has a four-year investment period and a non-call period of two years.

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