Across the 172 EU CLO deals that have been redeemed, the overall average IRR was 11.8%. The top quartile of deals achieved IRRs of at least 13.5%, while the bottom quartile recorded IRRs below 7.1%. Notably, the top 25% of deals within each vintage delivered minimum IRRs in the low teens, except for the 2017 and 2019 vintages, broadly in line with the returns typically marketed for CLO equity at primary issuance.
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