Fortress Credit Europe BSL 2024-1 DAC: 16 December 2024

This will be the first Fortress CLO managed in Europe, by the collateral manager FCFE CM LLC.

“We’re pleased to bring a Fortress CLO strategy to Europe for the first time” said Rahul Ahuja, Co-Head of European Credit. “This transaction is part of our ongoing plan to expand our European credit business through the thoughtful addition of strategies that offer investors new opportunities. We believe we can offer investors differentiated investing opportunities – like this CLO – given the combined power of Fortress’s global experience as a leading credit investor and our established European platform.”

It is a securitisation of mainly Senior Secured Obligations (at least 90%) with the rest made up of Senior Unsecured, Second-Lien Loans and High-Yield Bonds.

The transaction features a non-call option until November 2026 and a re-investment period which ends in July 2029.