STCP CLO 3 receives strong support from both new and repeat investors
DALLAS, TX – (BUSINESS WIRE – April 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 2023-3, Ltd. (“STCP CLO 3” or “the Fund”), the Firm’s third collateralized loan obligation since inception and the Firm’s second CLO in 2023.
STCP CLO 3 totals $401 million and received broad support from the investor community including banks, insurance companies, and asset management firms. The Fund has a three-year reinvestment period and a one-year non-call period. Goldman Sachs acted as the Fund’s underwriter, and Dechert, LLP acted as counsel to Sycamore Tree.
“CLO 3 continues our focus on higher quality, more liquid, broadly syndicated US loans across a wide range of industries,” said Trey Parker, Chief Investment Officer. “Our focus on capital preservation is well suited to current market conditions and given our access to committed CLO equity capital, we expect to be a disciplined, consistent new issuer.”
Having launched four distinct investment strategies to date and with deep prior experience providing customized solutions, the Sycamore Tree’s total AUM is now approximately $1.6 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