STCP CLO 4 attracts capital from both domestic and international institutional investors
DALLAS, TX – (BUSINESS WIRE – September 14, 2023) — Sycamore Tree Capital Partners (“Sycamore Tree”), a specialist asset manager with private and alternative credit investment expertise, announced today the closing of STCP CLO 2023-4, Ltd. (“STCP CLO 4” or “the Fund”), the Firm’s fourth collateralized loan obligation since launching the CLO platform in July of 2021 and the Firm’s third CLO in 2023.
STCP CLO 4 totals $405 million and received broad support from investors such as banks, insurance companies, and asset management firms, including significant investor participation from outside the United States. The Fund has a five-year reinvestment period and a two-year non-call period. Citibank Securities, NA acted as the Fund’s underwriter, and Dechert, LLP acted as counsel to Sycamore Tree.
“Notwithstanding volatile markets, we continue to demonstrate our team’s strong experience and capabilities,” said Paul Travers, Managing Director and Portfolio Manager. “We appreciate that our support from both existing and new investors continues to grow.”
Having launched four distinct investment strategies to date, Sycamore Tree’s total AUM is now approximately $2.0 billion.
About Sycamore Tree Capital Partners
Sycamore Tree Capital Partners is a value-oriented, durable-alpha investment firm specializing in alternative credit. Founded by industry veterans Mark Okada, Trey Parker and Jack Yang, the firm has deep experience across economic and market cycles. Headquartered in Dallas, TX with an office in New York City, the firm’s expertise includes bank loans, high yield bonds, structured credit, and special situations. For additional information, please visit www.sycamorelp.com.
Andrew Merrill & Aidan O’Connor