TCW Continues Strong Growth in Alternative Credit With Close of Third $400 Million CLO in 2024
TCW Group announced the closure of a $400 million collateralized loan obligation (CLO) fund, marking its third CLO closure in 2024. The TCW CLO 2024-3 is primarily secured by broadly syndicated first-lien loans. The firm has significantly expanded its alternative credit assets, more than doubling its AUM since 2020.
TCW currently manages 13 CLOs with approximately $5.4 billion in dedicated CLO assets. The firm recently launched the TCW AAA CLO ETF (ACLO), offering investors access to AAA CLOs through an ETF. In 2024, TCW's CLO platform has completed three new issues, two CLO resets, and two refinancings, with Jefferies serving as placement and structuring agent.
TCW Group ha annunciato la chiusura di un fondo di obbligazioni garantite (CLO) da 400 milioni di dollari, segnando la sua terza chiusura di CLO nel 2024. Il TCW CLO 2024-3 è principalmente garantito da prestiti di primo grado ampiamente sindacati. L'azienda ha ampliato significativamente i suoi attivi di credito alternativi, più che raddoppiando i suoi AUM dal 2020.
TCW gestisce attualmente 13 CLO con circa 5,4 miliardi di dollari in attivi dedicati ai CLO. Recentemente, l'azienda ha lanciato il TCW AAA CLO ETF (ACLO), offrendo agli investitori accesso a CLO AAA tramite un ETF. Nel 2024, la piattaforma CLO di TCW ha completato tre nuove emissioni, due reset di CLO e due rifinanziamenti, con Jefferies che ha servito come agente collocatore e di strutturazione.
TCW Group anunció el cierre de un fondo de obligación de préstamo colateralizado (CLO) de 400 millones de dólares, marcando su tercer cierre de CLO en 2024. El TCW CLO 2024-3 está principalmente garantizado por préstamos de primer tramo ampliamente sindicados. La firma ha ampliado significativamente sus activos de crédito alternativo, más que duplicando su AUM desde 2020.
TCW actualmente gestiona 13 CLO con aproximadamente 5.4 mil millones de dólares en activos dedicados a CLO. Recientemente, la firma lanzó el TCW AAA CLO ETF (ACLO), ofreciendo a los inversores acceso a CLO AAA a través de un ETF. En 2024, la plataforma CLO de TCW ha completado tres nuevas emisiones, dos reajustes de CLO y dos refinanciaciones, con Jefferies sirviendo como agente de colocación y estructuración.
TCW Group는 4억 달러 규모의 담보부 대출 의무(CLO) 펀드의 종료를 발표하며, 2024년 세 번째 CLO 종료를 기념했습니다. TCW CLO 2024-3는 주로 광범위하게 신디케이션된 1순위 대출로 보장됩니다. 이 회사는 대체 신용 자산을 크게 확장했으며, 2020년 이후 자산 규모(AUM)가 두 배 이상 증가했습니다.
TCW는 현재 약 54억 달러의 CLO 전용 자산을 보유한 13개의 CLO를 관리하고 있습니다. 최근, 이 회사는 투자자들에게 ETF를 통해 AAA CLO에 접근할 수 있는 TCW AAA CLO ETF (ACLO)를 출시했습니다. 2024년, TCW의 CLO 플랫폼은 세 가지 새로운 발행, 두 건의 CLO 리셋 및 두 건의 재금융을 완료했으며, Jefferies가 배치 및 구조화 에이전트로 활동했습니다.
TCW Group a annoncé la fermeture d'un fonds d'obligations de prêts collatéralisés (CLO) de 400 millions de dollars, marquant sa troisième fermeture de CLO en 2024. Le TCW CLO 2024-3 est principalement garanti par des prêts de premier rang largement syndiqués. La société a considérablement élargi ses actifs de crédit alternatifs, doublant plus que son AUM depuis 2020.
TCW gère actuellement 13 CLO avec environ 5,4 milliards de dollars d'actifs CLO dédiés. Récemment, la société a lancé le TCW AAA CLO ETF (ACLO), offrant aux investisseurs un accès aux CLO AAA via un ETF. En 2024, la plateforme CLO de TCW a réalisé trois nouvelles émissions, deux réinitialisations de CLO et deux refinancements, avec Jefferies servant d'agent de placement et de structuration.
TCW Group gab die Schließung eines 400 Millionen Dollar schweren collateralized loan obligation (CLO) Fonds bekannt, was die dritte CLO-Schließung im Jahr 2024 markiert. Der TCW CLO 2024-3 ist hauptsächlich durch breit syndizierte Ersthypothekendarlehen gesichert. Das Unternehmen hat seine alternativen Kreditanlagen erheblich ausgebaut und sein verwaltetes Vermögen (AUM) seit 2020 mehr als verdoppelt.
TCW verwaltet derzeit 13 CLOs mit etwa 5,4 Milliarden Dollar in speziellen CLO-Vermögenswerten. Kürzlich startete die Firma den TCW AAA CLO ETF (ACLO), der Anlegern den Zugang zu AAA CLOs über einen ETF ermöglicht. Im Jahr 2024 hat die CLO-Plattform von TCW drei neue Emissionen, zwei CLO-Reset und zwei Refinanzierungen abgeschlossen, wobei Jefferies als Platzierungs- und Strukturierungsagent fungierte.
- Closed $400 million CLO fund in 2024
- More than doubled alternative credit AUM since 2020
- Manages 13 CLOs with $5.4 billion in dedicated CLO assets
- Successfully launched new CLO ETF (ACLO)
- Completed multiple CLO transactions in 2024 (3 new issues, 2 resets, 2 refinancings)
- None.
Insights
This CLO closure represents significant growth in TCW's alternative credit business, with the firm closing its third $400 million CLO in 2024 alone. The total CLO assets under management now stand at
The launch of the TCW AAA CLO ETF (ACLO) demonstrates strategic expansion into retail-accessible products, diversifying their investor base. The increased capital markets activity, including three new issues, two resets and two refinancings in 2024, suggests robust market appetite for structured credit products in the current rate environment. This growth trajectory and product diversification could enhance TCW's competitive position in the alternative credit space.
Firm Has More Than Doubled Alternative Credit Assets Since 2020
Since 2020, TCW has more than doubled its alternative credit assets under management (AUM). TCW manages alternative credit across private credit, private asset-backed finance, CLO liabilities and CLO assets under management.
“TCW continues to make significant investments in its credit capabilities across both public and private markets,” said Jerry Cudzil, Fixed Income Generalist Portfolio Manager. “We are pleased to have top-tier partners that have helped accelerate the growth of our CLO business and expect to establish additional equity partnerships in 2025.”
TCW now manages 13 CLOs with over approximately
“Over the course of 2024, we have seen heightened capital markets activity across our CLO platform which has included three new issues, two CLO resets and two refinancings,” said Drew Sweeney, Senior Portfolio Manager. “We expect to see strong growth in our CLO platform over the coming years and are grateful for the confidence investors place in our process and approach.”
Jefferies LLC served as placement agent and structuring agent.
This material is for general information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. TCW, its officers, directors, employees, or clients may have positions in securities or investments mentioned in this publication, which positions may change at any time, without notice. While the information and statistical data contained herein are based on sources believed to be reliable, we do not represent that it is accurate and should not be relied on as such or be the basis for an investment decision. The information contained herein may include preliminary information and/or "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented. TCW assumes no duty to update any forward-looking statements or opinions in this document. Any opinions expressed herein are current only as of the time made and are subject to change without notice. Past performance is no guarantee of future results. © 2024 TCW
Please see the TCW AAA CLO ETF’s Prospectus for more information on risk factors associated with this ETF.
Before investing you should carefully consider the fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from etf.tcw.com. Please read the prospectus carefully before you invest.
The TCW AAA CLO ETF is advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
About The TCW Group
TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its ETF suite, TCW MetWest Funds and TCW Funds, TCW manages one of the largest fund complexes in the
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Source: The TCW Group
FAQ
What is the size of TCW's latest CLO fund (TCW CLO 2024-3)?
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