The new Euro-denominated CLO ETF (PCL0) will be traded from August 7, 2025 on Xetra
Palmer Square Capital Management (“Palmer Square”), a credit-focused alternative asset manager with over $35.9 billion* in assets under management and one of the world’s largest CLO issuers,announced the launch and commencement of trading of the Palmer Square EUR CLO Senior Debt Index UCITS ETF (PCL0), the first Euro-denominated passive CLO ETF specifically designed for European institutional investors that provides exposure to AAA and AA-rated CLO debt securities. PCL0 is indexed to Palmer Square’s EUR CLO Senior Debt Index (ECLOSE), expanding differentiated global access to European senior CLO debt securities. The PCL0 is the first sub-fund of a newly established Irish collective asset management vehicle (ICAV), Palmer Square UCITS ICAV, an umbrella fund with segregated liability between sub-funds, established under the laws of Ireland.
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“The launch of PCL0 embodies the philosophy of leveraging our deep expertise and experience in global credit to deliver innovative, investor-focused solutions tailored to the growing institutional demand for this asset class around the world,” said Angie Long, Chief Investment Officer and Portfolio Manager at Palmer Square.
Chris Long, Founder and Managing Director of Palmer Square, added: “As the latest addition to our global suite of investment solutions, PCL0 is the first in a series of Palmer Square European ETFs offering high-quality exposure to cycle-resistant senior CLO debt securities, expanding global access to our proven exposure while underscoring our distinctive positioning and leadership in global credit markets.”
The PCL0 tracks the performance, before fees and expenses, of ECLOSE, a proprietary, research-driven benchmark launched by Palmer Square in 2024 with a track record dating back to 2018. Designed to provide institutional investors with a transparent, rules-based, high-quality benchmark for Euro-denominated senior CLO debt, ECLOSE is a cornerstone of Palmer Square’s expansion into the European ETF market.
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“Our ETFs are designed to simplify portfolio construction while facilitating superior market exposure to senior tranches of euro-denominated CLO debt,” said Taylor Moore, Managing Director and Portfolio Manager at Palmer Square. “The PCL0 will enable institutional investors to efficiently allocate their assets across the AAA and AA-rated European CLO debt universe and easily achieve optimal market exposure.”
Jeremy Goff, Managing Director at Palmer Square, said: “As the first and only passive UCITS CLO ETF tracking the performance characteristics of our ECLOSE index, PCL0 offers European institutional investors an innovative and unique tool to access and allocate capital to this market.”
Palmer Square was the first European CLO issuer from 2022 to 2024, reinforcing its leadership position in European structured credit. Over a decade ago, the firm pioneered the launch of globally distributed CLO indices, including the US-focused Palmer Square CLO Senior Debt Index (CLOSE) and CLO Debt Index (CLODI). Building on this legacy, the launch of PCL0 marks another milestone in bringing Palmer Square’s approach and expertise to institutional investors across Europe.
Palmer Square UCITS ICAV is advised in Ireland by Maples and Calder (Ireland) LLP. Carne Global Fund Managers (Ireland) Limited acts as the management company. JP Morgan acts as administrator, registrar and depositary.
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Source : PRnewswire