CLO Equity Fund Gains Popularity

US alternative asset manager MidOcean Partners has surpassed its $300m (£236m) target at the close of its inaugural collateralised loan obligation (CLO) equity fund.

The MidOcean CLO Equity Fund I attracted USD304m of capital commitments from a diverse range of institutional investors including new and existing clients.

The fund will purchases equity in CLOs managed by MidOcean’s team.