M&G Investments and Ontario Teachers’ Pension Plan have agreed to a joint venture to support the scaling of a multibillion-euro European collateralized loan obligation (CLO) platform.
Ontario Teachers’ has agreed to provide investment capacity of up to €200 million ($227 million) for equity investments in future M&G Margay CLO issuances as well as participate in the long-term economics of M&G’s European CLO business and support the continued growth of the platform.
Capital will be deployed on an investment-by-investment basis in accordance with the agreed investment framework.
James King, head of private and structured credit at M&G Investments, said: “This investment reflects the strength of our approach and track record in CLOs across market cycles. Our European platform is underpinned by disciplined credit selection and a long-term investment approach. Access to aligned long-term capital and the expertise of Ontario Teachers’ provi
