Littlejohn's Wellfleet closes second CMO in 7 months

Littlejohn & Co’s Wellfleet Credit Partners closed a $358.5 million collateralized loan obligation. It’s the second issued by Wellfleet, the performing-credit business of Littlejohn, the Greenwich, Conn., middle-market private equity firm. The first CLO closed last September at $360 million. The latest CLO is backed by a diversified portfolio of broadly syndicated senior secured loans, Wellfleet said in a statement. Six classes of notes rated Aaa through Ba3 by Moody’s and two classes of notes rated AAA by Fitch totaling $324.0 million were placed. Morgan Stanley & Co was arranger for the CLO and Dechert LLP was legal adviser.

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