Deerpath Capital Management, LP (“Deerpath”), one of the largest private credit managers in the U.S. lower-middle market, announced the reset and upsize of Deerpath CLO 2021-2, now a $479.0 million collateralized loan obligation (CLO).
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Deerpath CLO 2021-2, issued in December of 2021, was originally sized at $429.5 million. The $50 million upsize represents the fifteenth CLO issued by Deerpath since 2018, bringing the firm's total CLO issuance to approximately $6.3 billion.
This marks the second CLO transaction of 2025 for the firm, which also reset and upsized Deerpath CLO 2023-1 earlier this year. Deerpath CLO 2021-2 is secured by a portfolio of senior secured loans to middle market, private equity-backed companies, which have been primarily originated by the firm.
Global institutional investors including pension funds, insurance companies and asset managers have displayed strong interest in the updated structure.Deerpath's managed funds purchased 100 percent of the subordinated notes issued by the CLO. The transaction closed on August 20, 2025, and the reinvestment period was extended to October 15, 2029.
Derek Dubois, Managing Director and Treasurer said, “Deerpath has continued to access the CLO market in 2025 and reset and upsize CLOs at more favorable terms for our investors. This is our second CLO transaction this year and demonstrates our continued access to CLOs as a strong form of portfolio financing.”
Lead placement agent GreensLedge Capital Markets LLC and co-placement agent NatWest Markets Securities priced this upsized reset.
About Deerpath Capital Management, LPFounded in 2007, Deerpath Capital Management, LP is one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across diverse industries. The firm currently manages over $8 billion of assets. For more information, please visit www.deerpathcapital.com.
Media contact:Eli KapsackProfile Advisors (On behalf of Deerpath Capital)ekapsack@profileadvisors.com
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SOURCE Deerpath Capital Management, LP
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