Sona Asset Management successfully prices its first European CLO, issuing the largest 2.0 CLO transaction from a debut platform

November 15, 2023

Sona Asset Management, a leading European credit manager, is pleased to announce the
pricing of Sona Fios CLO I, a €423.9 million collateralised loan obligation (“CLO”)
transaction.

This is Sona’s first CLO and represents the largest European transaction from a debut 2.0
CLO Platform, reflecting the Firm’s expertise in European leveraged finance. The deal
attracted a high-quality investor base, comprising a mix of institutional investors and asset
managers.

Sona’s CLO strategy seeks to drive returns and protect the downside by active portfolio
management, constructing and maintaining an investment portfolio with a focus on relative
value and capital preservation. Sona believes the strategy will be synergistic to its existing
European credit strategies and benefit from the team’s market connectivity and two decades
of credit investing experience.

With Sona’s expertise in European leveraged finance, CLOs are a natural progression to
extend its European credit offering. In early 2023, Sona hired Jacob Walton to join Ludovic
Walter as co-portfolio manager of the Fios CLO strategy. Sona has made significant
investments into the CLO infrastructure, including best-in-class systems, and dedicated
operational support.

John Aylward, Founder and Chief Investment Officer at Sona Asset Management,
said:
“As leading investors in European leveraged finance, the build-out of our CLO platform has
been a very natural progression. It was paramount that we build a best-in-class product as a
considered and measured step in Sona’s growth. Therefore, we are very pleased that our
first CLO has been the largest European transaction from a debut CLO platform.”

Jacob Walton, Co-PM of Sona Fios CLO strategy, said:
“We are excited to have successfully priced our inaugural CLO, which provides the
opportunity to translate Sona’s track record across European corporate credit into CLO
management. The high-quality investor base demonstrates Sona’s position as one of the
leading alternative credit managers in Europe.”

Ludovic Walter, Co-PM of Sona Fios CLO strategy, added:
“Pricing our inaugural CLO is the successful conclusion of a diligent process which reflects
high investor appetite for the product and a favourable credit environment. The transaction
highlights the Sona team’s deep expertise and knowledge of the market. Thank you to J.P.
Morgan for their role as lead arranger and to our investors for their continued support.”

About Sona Asset Management
Sona is an institutional alternative asset manager founded in 2016 by CIO, John Aylward. As
a leading European credit manager, Sona leverages its expertise in European leveraged
finance across complementary credit strategies. Alongside the Fios CLO platform, Sona
offers two core European credit strategies, the “All-Weather” long/short credit hedge fund
(SCMF) and a flexible private credit strategy, Capital Solutions.

The Firm manages over $5bn AUM with a team of over 50 people between two offices in London and New York.
Sona manages capital on behalf of a range of institutional investors.