About This Fund
Atlas Senior Loan Fund XXIV (also known as 'Atlas 24') is a collateralized loan obligation (CLO) managed by Crescent Capital Group LP, a Los Angeles and New York-based alternative credit investment manager with over 30 years of experience in leveraged credit markets. Closed on December 10, 2024, Atlas 24 represents the 27th CLO fund completed by Crescent since the Global Financial Crisis, underscoring the firm's deep and consistent presence in the structured credit market. The fund has a target par amount of $400 million.
Atlas Senior Loan Fund XXIV invests primarily in U.S. senior secured term loans, complemented by select senior secured corporate bonds. As a CLO structure, the fund employs leverage to acquire a diversified portfolio of corporate credit instruments and issues tranched notes to investors with varying risk/return profiles — from AAA-rated senior tranches to subordinated equity notes. Crescent's CLO strategy leverages the firm's integrated credit research platform covering leveraged loans, high yield bonds, and structured credit, supported by specialist teams in New York and Los Angeles. The fund has a stated maturity date of January 20, 2038, providing a long investment horizon for the underlying loan portfolio. US Bank serves as the trustee.
Crescent Capital Group has established one of the most consistent CLO track records in the U.S. leveraged credit market, completing 27 CLO transactions since 2009. The Atlas Senior Loan Fund series has been a flagship structured credit product for Crescent, demonstrating the firm's ability to access diverse funding sources and maintain active CLO management across market cycles. The December 2024 close reflects continued institutional appetite for U.S. CLO exposure at a time when leveraged loan markets remained active and spreads offered attractive risk-adjusted returns relative to comparable fixed-income alternatives.