Canyon Partners Closes €400 Million European CLO

June 22, 2026

Canyon Partners, a global alternative investment manager with $30 billion in assets under management (AUM), has announced the closing of Canyon Euro CLO 2026-1, a €400 million European collateralized loan obligation (CLO). This transaction brings Canyon's European CLO platform AUM to over €2.1 billion and raises the total AUM across the firm's global CLO platform to approximately $12.6 billion. The CLO will be managed by Canyon's affiliate, Canyon CLO Advisors L.P.

Canyon Euro CLO 2026-1 was arranged by BNP Paribas and features a 1.5-year non-call period and a 4.7-year reinvestment period, structured to comply with European risk retention regulations. It achieved a weighted-average cost of debt (WACD) of E+182, with the triple-A tranche priced at E+130 basis points.

Erik Miller, Partner and Co-Head of Canyon's CLO business, stated that the transaction reflects the strength of their European CLO strategy and the depth of relationships with CLO debt investors. He noted that achieving competitive pricing in the current environment is a result of disciplined portfolio construction and established trust with debt investors.

Canyon Euro CLO 2026-1 is Canyon's first new issue European CLO of the year and marks its fifth active European CLO. The majority of the equity for this CLO will be funded by the Canyon CLO Fund IV L.P., which closed earlier this year with over $400 million in commitments.

Martin Downen, Partner and Co-Head of Canyon's CLO business, expressed pride in the continued scaling of their European CLO strategy, indicating that recent momentum reflects growing conviction among sophisticated investors in Canyon's approach. Since launching its first CLO strategy in 2001, Canyon has issued and managed a total of 36 CLOs and CDOs globally.

Canyon Partners, LLC was founded in 1990 and employs a deep value, credit-intensive approach across public and private corporate credit, asset-backed credit, and real estate, investing on behalf of a diverse array of institutions worldwide.

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