Fortress prices third European CLO at €406m, reinvesting to 2031
The vehicle invests in senior secured, first lien broadly syndicated loans and extends a platform launched in November 2024.
Fortress Investment Group has priced Fortress Credit Europe BSL 2026-3 DAC, its third European collateralised loan obligation, raising €406 million for investment in loan securities.
The vehicle is managed by Fortress affiliates and invests primarily in senior secured, first lien, broadly syndicated loans diversified by geography and industry. Its reinvestment period runs until April 2031 — close to five years in which principal repayments can be recycled into new loans rather than returned to noteholders, which is the feature that makes a CLO liability structure attractive to insurance buyers of the rated tranches.
At €406 million the deal sits between the platform's first two vehicles rather than marking a step up in size. Fortress launched the platform in November 2024 with Fortress Credit Europe BSL 2024-1, which raised €450 million, and followed it in July 2025 with Fortress Credit Europe BSL 2025-2 at €408 million. Three deals inside 21 months, all within €44 million of each other, describes a programme issuing to a repeatable format rather than scaling.
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