Monroe Capital took its time stepping back into the CLO game post-financial crisis, with good reason. The middle market that the firm plays in is less liquid and less transparent than the broadly syndicated loan market, so picking up primary loans is key for a collateralized loan obligation. And what better way to do that than to have your own origination platform?

Over the past several years, Monroe has built that platform so its $358 million Monroe Capital CLO 2014-1, which priced in August, was the next logical step for the Chicago-based firm. Deutsche Bank arranged the transaction, which included a $137 million triple-A tranche priced at Libor plus 180 bps.

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