Irradiant Partners, LP (Irradiant), an alternative investment manager with over $10bn in assets under management, announced the closing of $411m in commitments on the third vintage of the Irradiant CLO equity strategy.

Irradiant’s CLO equity strategy first launched in 2017, and the firm has issued 21 CLOs for over $8bn since inception. In addition to investing in the equity tranche of Irradiant-managed CLOs, ICLOP III also allows for investment in both the equity and mezzanine tranches of third-party managed CLOs, with an intent to add alpha to ICLOP III investors regardless of market environment.

Over 95% of investors in ICLOP III are returning investors from the last vintage of the strategy.