Trinitas Capital Management LLC has closed its sixth collateralized loan obligation (CLO) fund, called Trinitas VI LLC, with approximately $717 million in capital commitments.
Trinitas VI is the largest offering since the firm was founded in 2015. Trinitas Capital is a Dallas-based CLO manager providing investment advisory services. The firm has nearly $1.5 billion in assets under management across three CLOs. Concurrent with the sixth CLO fundraise, Trinitas Capital also received a $250 million line of equity from investment firm Pine Brook.
Other firms have been raising CLO funds. In May 2017, Antares Capital raised its first CLO with $2.1 billion in capital commitments. In 2016, the Carlyle Group (Nasdaq: CG) closed its fourth CLO fund at $507 million and Littlejohn’s Wellfleet closed a $406 million fund.
Dechert LLP served as legal adviser to Trinitas Capital, while Eaton Partners acted as financial adviser. Skadden Arps Slate Meagher & Flom LLP served as legal adviser to Pine Brook, while Wells Fargo Securities LLC served as financial adviser.