Onex Credit Partners is launching its first CLO of 2016, and 11th overall, following up a 2015 when the private equity group issued three collateralized loan obligations of mostly similar sizes.

OCP CLO 2016-11 is a $456.5 million floating-rate notes issuance with a target par of $500 million in senior secured loans it plans to invest in. Onex has identified $388.12 million, or 77.62% of the portfolio ramp-up. The transaction involves 98 diversified obligors with the largest obligor holding 2.06% of the portfolio value.

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