Permira Credit has successfully marketed and priced Menlo CLO IV, a $504 million US collateralised loan obligation, reflecting robust investor appetite and the firm’s expanding US credit platform, which now manages approximately €1.8 billion of assets.
Permira Credit has marketed and priced Menlo CLO IV, a $504 million US collateralised loan obligation that the firm says was increased in size because of strong investor demand. According to Permira, the deal brings the manager’s US CLO assets under management to about $1.8 billion and lifts its global liquid credit AUM to €7.3 billion.
The collateral manager of Menlo IV is Permira US CLO Manager LLC. The Menlo platform, which the firm launched in November 2024, mirrors the approach used by its European business, Providus, emphasising credit-led portfolio construction, active management and a focus on resilient sectors alongside responsible investing. Permira’s releases note the group has now priced multiple CLO transactions across Europe and the United States since the Providus platform began in 2018.
“The successful pricing of our first US CLO of 2026 highlights the strong momentum behind our platform,” Jared Adler, managing director at Permira Credit, said. “The pace and scale of our growth reflect both the confidence of our investors and our team’s expertise in navigating evolving credit cycles.”
Permira has been steadily expanding its Menlo series: Menlo I was priced at $430.6 million in November 2024, Menlo II at $404.2 million in April 2025, and Menlo III at $530.8 million in September 2025. Ariadna Stefanescu, co-head of Permira Credit and head of liquid credit, said the speed of issuance underlines market recognition of the firm’s strategy. “Pricing our fourth US deal in 14 months demonstrates a clear recognition of our investment strategy and track record,” she said, adding that the firm continues to see significant opportunity in the US credit market.
Permira’s broader liquid credit franchise has continued to expand in Europe alongside its US push. Recent European transactions include Providus CLO XIII and XIV, which the firm said were upsized amid robust demand, and Providus CLO XII, all contributing to the firm’s growing European portfolio. Company statements indicate the wider credit platform has executed 18 CLOs across Europe and the US over an 18-year span, and that the liquid credit business has been a key component of Permira’s credit offering as it scales in the US.
Industry observers say the secondary loan and CLO markets have seen renewed investor interest as managers offer defensive, credit-focused strategies, and as retail and institutional demand for higher-yielding, actively managed structures has recovered following earlier volatility. Permira’s successive Menlo issuances, the firm argues, demonstrate both investor appetite for its approach and the benefit of running a dedicated US CLO management team while leveraging the firm’s global network.
Permira’s announcement makes clear the pricing remains subject to customary closing conditions. The company said the Menlo CLO management unit will continue to apply the same investment framework as Providus, while growing its US presence through further issuance and capital-raising activity.
- https://alternativecreditinvestor.com/2026/02/04/permira-credit-prices-504m-us-clo/ – Please view link – unable to able to access data
- https://www.permira.com/news-and-insights/announcements/permira-credit-prices-menlo-clo-iv-at-504-million/ – Permira Credit has priced Menlo CLO IV, a $504 million US collateralised loan obligation, marking its fourth US CLO since launching its US-based CLO platform in November 2024. The deal was upsized due to strong investor demand. Upon closing, Permira Credit will manage approximately $1.8 billion of CLO assets in the US market, with global liquid credit assets under management reaching €7.3 billion. The collateral manager for Menlo IV is Permira US CLO Manager LLC. The Menlo CLO management business follows the same investment strategy as Permira Credit’s European CLO management business, Providus, focusing on resilient portfolio construction, active portfolio management, and responsible investing. Jared Adler, Managing Director at Permira Credit, highlighted the strong momentum behind the platform, while Ariadna Stefanescu, Co-Head of Permira Credit and Head of Liquid Credit, noted the recognition of their investment strategy and track record in the US credit market. Previous US CLOs include Menlo I, priced at $430.6 million in November 2024; Menlo II, priced at $404.2 million in April 2025; and Menlo III, priced at $530.8 million in September 2025. Permira’s liquid credit business has priced 18 CLOs across Europe and the US over an 18-year period.
- https://www.permira.com/news-and-insights/announcements/permira-credit-prices-second-us-clo-at-404-million – Permira Credit has priced Menlo CLO II, a $404 million US collateralised loan obligation, marking its second US CLO since launching its US-based CLO management business in November 2024. The deal was upsized due to strong investor demand. Upon closing, Permira Credit will manage approximately $1.8 billion of CLO assets in the US market, with global CLO management assets under management reaching €5.3 billion. The collateral manager for Menlo II is Permira US CLO Manager LLC. The Menlo CLO management business follows the same investment strategy as Permira Credit’s European CLO management business, Providus, focusing on resilient portfolio construction, active portfolio management, and responsible investing. Ariadna Stefanescu, Head of Liquid Credit at Permira Credit, highlighted the recognition of their investment strategy and track record in the US credit market. Previous US CLOs include Menlo I, priced at $430.6 million in November 2024. Permira’s credit platform manages approximately €18 billion of assets and is currently investing in its fifth direct lending vintage, which closed on €4.5 billion of investable capital in 2023.
- https://www.permira.com/news-and-insights/announcements/permira-enters-us-credit-market-with-pricing-of-debut-us-clo-at-430-6-million/ – Permira Credit has priced Menlo CLO I, a $430.6 million US collateralised loan obligation, marking its debut in the US credit market. This is the first CLO priced by Permira Credit in the US, signalling a natural extension of the firm’s liquid credit platform following the growth of its European CLO management business, Providus, since 2018. The Menlo CLO management business follows the same established investment strategy as Providus, focusing on a credit-led approach, defensive portfolio construction with a focus on resilient sectors such as technology, healthcare, and business services, active portfolio management, and responsible investing. The US business will benefit from the global scale, experience, and networks of Permira, spanning 16 offices globally, and will be run by a dedicated team of CLO specialists. Ariadna Stefanescu, Co-Head of Permira Credit and Head of Liquid Credit, highlighted the significant milestone for the credit platform at Permira and the huge opportunity in the US credit market. Permira’s credit platform was established in 2008 and today manages approximately €17 billion of assets under management. It is currently investing its fifth Direct Lending vintage, which closed on €4.5 billion of investable capital in 2023. The pricing is subject to customary closing conditions. The collateral manager of Menlo I is Permira US CLO Manager LLC.
- https://www.permira.com/news-and-insights/announcements/permira-credit-announces-pricing-of-providus-clo-xii-at-403-5-million/ – Permira Credit has priced Providus CLO XII, a €403.5 million European collateralised loan obligation, marking the 12th CLO from the firm’s European CLO management platform, Providus. This follows the pricing of Permira Credit’s second US CLO, Menlo CLO II, last month at $404 million. The total assets under management for Permira’s global CLO management platform will reach over €5.4 billion upon closing of this transaction. Ariadna Stefanescu, Co-Head of Permira Credit and Head of Liquid Credit, highlighted the continued momentum and the strength of their investment strategy, particularly during periods of significant market volatility. Permira Credit is a well-established global CLO manager, having managed its European CLO platform, Providus, since 2018, pricing 12 transactions during that time, and following the launch of its US CLO platform, Menlo, in 2024. The pricing is subject to customary closing conditions. The collateral manager of Providus CLO XII is Permira Credit European CLO Manager 2 LLP.
- https://www.permira.com/news-and-insights/announcements/permira-credit-announces-pricing-of-providus-clo-xiv-at-405-3-million/ – Permira Credit has priced Providus CLO XIV, a €405.3 million European collateralised loan obligation, marking the 14th CLO from the firm’s European CLO management platform, Providus. This follows the successful pricing of five Providus transactions in 2025, comprising two new issues and three resets. The total assets under management for Permira Credit’s global Liquid Credit platform will reach €6.9 billion upon closing of this transaction. Charlotte Claraco, Managing Director at Permira Credit, highlighted the strong investor demand and continued confidence in their defensive investment strategy and proven track record. Ariadna Stefanescu, Co-Head of Permira Credit and Head of Liquid Credit, noted the resilience of their strategy and the depth of their global investor relationships. Permira Credit is a leading global CLO manager, with an established European platform, Providus, operating and having priced 14 transactions since 2018, alongside a growing US CLO platform, Menlo, launched in 2024. The strong performance of this Liquid Credit platform is underpinned by a disciplined, credit-led investment approach, resilient portfolio construction, active portfolio management, and a strong commitment to responsible investing. The pricing is subject to customary closing conditions. The collateral manager of Providus CLO XIV is Permira Credit European CLO Manager 2 LLP.
- https://www.permira.com/news-and-insights/announcements/permira-credit-announces-pricing-of-providus-clo-xiii-at-459-million/ – Permira Credit has priced Providus CLO XIII, a €459 million European collateralised loan obligation, marking the 13th new issue CLO from the firm’s European CLO management platform, Providus. This follows the pricing of Permira Credit’s third US CLO, Menlo CLO III, earlier this month at $530 million, also upsized following strong demand from investors. The total assets under management for Permira Credit’s global Liquid Credit platform will reach €6.5 billion upon closing of this transaction. Charlotte Claraco, Managing Director of Permira Credit, highlighted the upsizing in response to strong demand, underscoring the strength of their CLO franchise and the continued appeal of their investment approach. Permira Credit is a leading specialist credit investor, with a well-established global CLO management platform, Providus, and a growing US CLO platform, Menlo. The pricing is subject to customary closing conditions. The collateral manager of Providus CLO XIII is Permira Credit European CLO Manager 2 LLP.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The article reports on the recent pricing of Menlo CLO IV at $504 million, dated February 4, 2026. This is the first known publication of this specific event, indicating high freshness. The content does not appear to be recycled or republished from other sources, and there are no discrepancies in figures or dates. The article includes updated data and does not recycle older material.
Quotes check
Score:
8
Notes:
The article includes direct quotes from Jared Adler and Ariadna Stefanescu. A search for these quotes reveals that they have been used in previous Permira Credit press releases, such as those announcing Menlo CLO III and Providus CLO XIII. This suggests that the quotes may be reused content. However, without access to the original press releases, it’s difficult to confirm if the quotes are verbatim or paraphrased. The lack of independent verification of these quotes raises concerns about their authenticity.
Source reliability
Score:
6
Notes:
The article is published on Alternative Credit Investor, a niche publication focusing on alternative credit markets. While it provides coverage of the event, its limited reach and potential biases due to its focus on alternative credit markets may affect the reliability of the information. The article does not provide links to the original Permira Credit press release, making it difficult to verify the information independently. The lack of independent verification sources further diminishes the reliability of the information.
Plausibility check
Score:
7
Notes:
The claims made in the article align with Permira Credit’s known activities, such as the launch of the Menlo CLO platform in November 2024 and subsequent CLO issuances. However, the absence of independent verification sources and the potential reuse of quotes from previous press releases raise questions about the authenticity and accuracy of the information. The article lacks specific factual anchors, such as detailed financial data or third-party confirmations, which would strengthen its credibility.
Overall assessment
Verdict (FAIL, OPEN, PASS): FAIL
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article reports on the recent pricing of Menlo CLO IV at $504 million by Permira Credit. However, the reliance on a niche publication with limited reach, potential reuse of quotes from previous press releases, and lack of independent verification sources raise significant concerns about the accuracy and reliability of the information. The absence of direct access to the original Permira Credit press release further complicates verification efforts. Given these issues, the content cannot be fully trusted without further independent confirmation.