Dechert Advises Ontario Teachers’ Pension Plan on €200 Million Strategic Investment in CLO Platform

Dechert advised Ontario Teachers' Pension Plan, a leading global institutional investor, in respect of a joint venture with M&G Investments to support the scaling of a multi-billion European collateralized loan obligation (CLO) platform.

Ontario Teachers' has agreed to provide investment capacity of up to €200 million for equity investments in future M&G Margay CLO issuances as well as participate in the long-term economics of M&G's European CLO business and support the continued growth of the platform.

By combining M&G's track record, in-house credit research and investment expertise in European broadly syndicated loans with Ontario Teachers' institutional CLO investment experience and capital, the joint venture will support disciplined platform growth and aims to deliver attractive risk-adjusted returns across market cycles. Capital will be deployed on an investment-by-investment basis in accordance with the agreed investment framework.

Global finance partners Christopher P. Duerden and Aaron Scott, and corporate partners Sam Whittaker and Steve Pratt, led the core Dechert team advising Ontario Teachers', alongside corporate senior associate Raul Vellani and global tax partner Dan Hawthorne.

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