March 19, 2025
CHICAGO, Illinois – PPM America, Inc. (PPM) today announced the closing of PPM CLO 8 Ltd. (CLO 8). CLO 8 has a deal size of $400M (by reinvestment target par value) and was executed with 16 unique institutional investors. It is PPM’s eighth CLO closed since the firm re-entered the CLO market in 2018, and the 14th CLO closed in the firm’s history.
“CLO 8 marks the most recent step in the growth of PPM’s CLO platform, following the close of CLO 7 and the reset of CLO 2 last year, as we aim to provide the frequency of activity that investors seek,” said Chris Kappas, CLO Portfolio Manager. “As always, we will actively manage to optimize the portfolio on behalf of our investors, utilizing our extensive credit research capabilities.”
PPM’s CLO platform is part of the firm’s seasoned leveraged credit team led by Adam Spielman, which averages 18 years of investment experience and manages $7.90 billion in assets as of December 31, 2024. The team has actively managed a wide range of bank loan and high yield mandates over multiple economic cycles and interest rate environments, and is supported by the firm’s robust 25-person corporate credit research team. CLO 8 is managed by a PPM subsidiary, PPM Loan Management Company 2, LLC, a registered investment adviser.
About PPM America
Our mission is to be seen by clients and their advisors as a consistently reliable partner to help them achieve their long-term value goals.
PPM is a US-based institutional asset manager with $83.51 billion in assets under management as of June 30, 2025.* Established in Chicago in 1990, PPM exists to consistently support institutional clients in achieving their long-term value goals. We offer our Midwestern mentality of hard work, straight talk, full transparency and humility. Our success is supported by a team-based culture that encourages debate, collaboration and consistency. At the center of our belief is the fact that our best ideas to date have and can come from any team member anywhere in our firm. We believe the success of our investment culture is best demonstrated by the strong retention of our clients and investment professionals.
* AUM includes committed but unfunded capital for PPM’s private equity and commercial real estate businesses. AUM includes both securities issued by PPM CLO vehicles held by PPM separately managed account clients and the underlying collateral assets of the CLO vehicles managed by PPM.
Past performance is no guarantee of future results. There can be no assurance that any particular individual will be involved in the management of any portfolio for any period of time, if at all. Furthermore, there can be no assurance that any PPM professionals presented herein will remain with PPM or that past experience or performance of such professionals serves as an indicator of his or her performance. Forward-looking statements are subject to uncertainties that could cause actual developments and results to differ materially from the expectations expressed. The opinions and views expressed herein are not intended to be relied upon as a prediction or forecast of actual future events or performance, guarantee of future results, recommendations or advice. Opinions expressed herein are current as of the date indicated and are subject to change without notice.
