GREENWICH, Conn.–(BUSINESS WIRE)–Wellfleet Credit Partners, the performing credit business of Littlejohn & Co., LLC, announced today the closing of Wellfleet CLO 2018-1, a $409.3 million collateralized loan obligation (CLO). Following the issuance of Wellfleet CLO 2018-1, Wellfleet has approximately $3.0 billion in assets under management.

Wellfleet CLO 2018-1 represents Wellfleet’s first new issue of the year and seventh CLO issuance since its initial CLO offering in 2015.

Wellfleet CLO 2018-1 is backed by a diversified portfolio of broadly syndicated senior secured loans. Five classes of notes rated Aaa through Ba3 by Moody’s and one class of notes rated AAA by Fitch, totaling $368.0 million, were placed. The CLO vehicle will have a two-year non-call and a five-year reinvestment period with a final maturity of 13 years.

Morgan Stanley acted as the arranger for the CLO. Milbank, Tweed, Hadley & McCloy acted as legal advisor to Wellfleet.

About Littlejohn & Co., LLC

Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments primarily in middle market companies. With over $7 billion under management, the Firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit http://www.littlejohnllc.com.