TechDogs-"Irradiant Partners Raises $411 Million In Commitments For Third Vintage Of CLO Equity Strategy"

Financial Technology

Irradiant Partners Raises $411 Million In Commitments For Third Vintage Of CLO Equity Strategy

By Business Wire

Business Wire
Overall Rating

SANTA MONICA, Calif.--(BUSINESS WIRE)--Irradiant Partners, LP ("Irradiant"), an alternative investment manager with over $10 billion in assets under management, announced the closing of $411 million in commitments on the third vintage of the Irradiant CLO equity strategy ("ICLOP III"), eclipsing its fundraising target of $400 million.

Over 95% of investors in ICLOP III are returning investors from the last vintage of the strategy. "We are honored that so many existing ICLOP investors have again entrusted us with their capital, and we thank them for their partnership," said John Eanes, Irradiant’s Co-CEO. "We are proud of our performance and excited to continue the expansion of our CLO platform with the successful close of ICLOP III.”

Irradiant’s CLO equity strategy first launched in 2017, and the firm has issued 21 CLOs for over $8 billion since inception. In addition to investing in the equity tranche of Irradiant-managed CLOs, ICLOP III also allows for investment in both the equity and mezzanine tranches of third-party managed CLOs, with an intent to add alpha to ICLOP III investors regardless of market environment. “Since inception, Irradiant-managed CLOs have produced differentiated performance, which is a testament to our portfolio management team, as well as the tremendous efforts of our credit analyst team,” added Michael Levitt, Irradiant’s Chairman. “We are thrilled to have exceeded our fundraising target for ICLOP III and look forward to continuing to produce compelling returns for our investors.”

About Irradiant Partners

Irradiant Partners is an employee-owned alternative asset manager focused on liquid credit, opportunistic credit, and renewable private equity and credit. Irradiant manages more than $10 billion primarily for institutional investors including public and corporate pensions, endowments, foundations, and insurance companies. For more information, please visit www.irradiantpartners.com.

Disclosure

This document is for informational purposes only and does not constitute, or form part of, a solicitation to purchase or issue any security or investment product. Any such offer or solicitation will only be made pursuant to separate documentation, which will be furnished to eligible investors on a confidential basis at their request. Investment in funds managed by the Firm is permitted only by “accredited investors” as defined in the Securities Act of 1933, as amended. In addition, investors must be “qualified clients” under the Investment Advisers Act of 1940, as amended, and “qualified purchasers” under the Investment Company Act of 1940, as amended.

Contacts

Zach Axelrod
Managing Director, Head of Investor Relations
Irradiant Partners, LP
424-210-9755
zaxelrod@irradiantpartners.com

First published on Wed, Nov 29, 2023

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

Irradiant Partners Investment Management Liquid Credit Renewable Private Equity

References:

Join The Discussion

  • Dark
  • Light