Pearl Diver announces close of 8th CLO fund at $400M

Pearl Diver Capital LLP announced today the final closing of its eighth closed-end collateralized loan obligation investment fund, PDC Opportunities VIII LP, at $400 million.

Launched with a target raise of $300 million, the fund hit its hard cap, with limited partners represented by public pension systems, corporate pension plans, high-net-worth family offices and endowments.

The fund is designed to invest opportunistically in the U.S. and European CLO space, focusing on the junior and mezzanine parts of the CLO capital structure.

With assets under management of close to $2 billion, Pearl Diver Capital is a pure-play CLO investment firm with offices in London and New York.