THL Credit Completes Second Middle Market Collateralized Loan Obligation

THL Credit Advisors LLC ("THL Credit"), a leading alternative credit manager with $17 billion of AUM, today announced that it has closed THL Credit Lake Shore CLO II at $306 million (“Lake Shore II”). The offering represents THL Credit’s second collateralized loan obligation (“CLO”) that includes middle market leveraged loans. The previous offering, THL Credit Lake Shore CLO I, closed in April 2019 at $411 million.

With the completion of this deal, THL Credit and its affiliates now manage 25 CLOs totaling approximately $13 billion in AUM.

“As one of the largest issuers of CLOs in the U.S., we are well positioned to generate attractive risk-adjusted returns for investors,” said Chris Flynn, CEO of THL Credit.  “We appreciate the continued support of our investors who recognize our leading origination capabilities and expertise in both the direct lending and tradable credit investment space.”

“We believe our original direct lending business provides a differentiated value proposition for sponsors and management teams of high-quality middle market companies,” said Michael A. Herzig, Managing Director of THL Credit.  “As the direct lending market has grown, CLOs are being used more regularly as part of that strategy, and many investors view middle market CLOs as an attractive way to get a premium to the broadly syndicated market.” 

Deutsche Bank served as Lead Manager, Structuring Agent and Bookrunner.

About THL Credit Advisors LLC

THL Credit is an alternative credit investment manager for both direct lending and broadly syndicated investments through public and private vehicles, collateralized loan obligations, separately managed accounts and co-mingled funds.  THL Credit maintains a variety of advisory and sub-advisory relationships across its investment platforms. 

Forward-Looking Statements

Statements made in this press release may constitute forward-looking statements. Such statements reflect various assumptions by the Company concerning anticipated results and are not guarantees of future performance. The accuracy of such statements involves known and unknown risks, uncertainties and other factors that, in some ways, are beyond management’s control, including the factors described from time to time in filings by the Company with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.

Investor Contact:THL Credit Advisors LLCMichael A. Herzig(212) [e-mail]

Media ContactStantonEmily M. Meringolo(646)[e-mail]