LOS ANGELES – August 10, 2017 – The TCW Group, a global asset management company, today announced that it has closed a $400 million Collateralized Loan Obligation (CLO) fund, TCW CLO 2017-1, Ltd., which is secured primarily by broadly syndicated first lien loans.
The CLO will be co-managed by Jerry Cudzil and Jamie Farnham, Co-Heads of Credit, and bank loan specialist Drew Sweeney.
“We were very pleased with the strong investor demand across all tranches of the offering,” said Cudzil. “TCW has a long and solid track record in credit research and selection, and we are gratified by the confidence investors place in our process and approach.”
This CLO follows a reset of a 2013 TCW CLO, Figueroa 2013-2, which extended the investment period by more than two years. That CLO reset closed in June 2017.
Jefferies LLC served as placement agent and structuring agent on both the TCW CLO 2017-1 transaction and reset of Figueroa 2013-2.
“TCW is committed to enhancing its leveraged finance franchise as part of the firm’s broad offering of world-class fixed income products,” said Farnham. “Over the past few years, we have continued to invest in our credit capabilities through the addition of top talent in both research and trading.”
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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 more than four decades of investment experience, TCW today manages approximately $195 billion in client assets. Through the MetWest Funds, TCW Funds and TCW Alternative 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.
TCW Media Contact:
Doug Morris
Head of Corporate Communications
Tel: +1-213-244-0509
Email: douglas.morris@tcw.com
Various matters discussed in this news release constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected or contemplated by these forward-looking statements due to a number of factors, including general economic conditions, the level of volatility in the securities markets and other risk factors.