About This Fund
Hayfin Emerald CLO XII DAC is the twelfth vehicle in the Emerald collateralised loan obligation (CLO) series managed by Hayfin Capital Management, a leading European alternative credit asset manager. Structured as a Designated Activity Company under Irish law and domiciled in Dublin, the vehicle is part of Hayfin's Emerald shelf — the firm's European CLO programme. Hayfin Emerald Management LLP acts as collateral manager and Hayfin Emerald II Limited serves as retention holder, ensuring compliance with EU risk-retention requirements under the Securitisation Regulation. Jefferies arranged the transaction, which was reset and priced at EUR 376.3 million in July 2025.
The fund's investment strategy involves acquiring a diversified portfolio of primarily senior secured, broadly syndicated European leveraged loans, with a smaller allocation to high-yield bonds and other eligible debt instruments. As a CLO, the structure issues rated tranches of notes from senior AAA through subordinated equity tranches to institutional investors, creating a differentiated risk-return profile across the capital stack. The Emerald series focuses exclusively on European credit markets, targeting assets denominated in EUR and GBP across a broad range of industry sectors. The portfolio is actively managed within defined eligibility criteria and coverage tests, with the manager having reinvestment discretion during the reinvestment period.
Hayfin Capital Management oversees more than EUR 20 billion in credit assets across direct lending, CLOs, liquid credit, and real assets strategies. The Emerald CLO series is one of the firm's cornerstone programmes, with successive resets and new issuances reflecting sustained institutional demand for Hayfin's European CLO capabilities. Hayfin Emerald CLO XII follows the firm's preceding Emerald vehicles and the separately managed Hayfin US CLO shelf, demonstrating the manager's capacity to operate across both European and US leveraged loan markets. The 2025 reset positions the fund for a new reinvestment and distribution cycle within the European leveraged finance ecosystem.