Irradiant Partners Raises $411 Million in Commitments for Third Vintage of CLO Equity Strategy

Irradiant Partners, LP ("Irradiant"), an alternative investment manager with over $10 billion in assets under management, announced the closing of $411 million in commitments on the third vintage of the Irradiant CLO equity strategy ("ICLOP III"), eclipsing its fundraising target of $400 million.

Over 95% of investors in ICLOP III are returning investors from the last vintage of the strategy. "We are honored that so many existing ICLOP investors have again entrusted us with their capital, and we thank them for their partnership," said John Eanes, Irradiant's Co-CEO. "We are proud of our performance and excited to continue the expansion of our CLO platform with the successful close of ICLOP III."

Irradiant's CLO equity strategy first launched in 2017, and the firm has issued 21 CLOs for over $8 billion since inception. In addition to investing in the equity tranche of Irradiant-managed CLOs, ICLOP III also allows for investment in both the equity and mezzanine tranches of third-party managed CLOs, with an intent to add alpha to ICLOP III investors regardless of market environment. "Since inception, Irradiant-managed CLOs have produced differentiated performance, which is a testament to our portfolio management team, as well as the tremendous efforts of our credit analyst team," added Michael Levitt, Irradiant's Chairman. "We are thrilled to have exceeded our fundraising target for ICLOP III and look forward to continuing to produce compelling returns for our investors."

About Irradiant Partners

Irradiant Partners is an employee-owned alternative asset manager focused on liquid credit, opportunistic credit, and renewable private equity and credit. Irradiant manages more than $10 billion primarily for institutional investors including public and corporate pensions, endowments, foundations, and insurance companies. For more information, please visit www.irradiantpartners.com.

Disclosure

This document is for informational purposes only and does not constitute, or form part of, a solicitation to purchase or issue any security or investment product. Any such offer or solicitation will only be made pursuant to separate documentation, which will be furnished to eligible investors on a confidential basis at their request. Investment in funds managed by the Firm is permitted only by "accredited investors" as defined in the Securities Act of 1933, as amended. In addition, investors must be "qualified clients" under the Investment Advisers Act of 1940, as amended, and "qualified purchasers" under the Investment Company Act of 1940, as amended.