Palmer Square Capital Management lists Europe’s first passive CLO ETF on the London Stock Exchange
Palmer Square Capital Management (“Palmer Square”), a credit-focused alternative asset management firm and one of the world’s largest CLO issuers, has listed its Palmer Square EUR CLO Senior Debt Index UCITS ETF (PCL0) on the London Stock Exchange.
The Palmer Square EUR CLO Senior Debt Index UCITS ETF (PCL0), the first passive Euro-denominated CLO ETF designed specifically for European institutional investors, provides exposure to AAA- and AA-rated CLO debt. PCL0 is benchmarked against Palmer Square’s EUR CLO Senior Debt Index (ECLOSE), expanding differentiated access globally to the European CLO senior debt. 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.
Speaking at the event,
“The launch of PCL0 epitomizes the philosophy of applying our deep global credit expertise and experience to innovative, investor-driven product solutions tailored to meet the rising institutional demand for this asset class around the world.”
Angie Long
Chief Investment Officer and Portfolio Manager at Palmer Square
“As the newest addition to our global line-up of investment solutions, PCL0 is the first in a series of European Palmer Square ETFs providing high-quality exposure to cycle-resilient senior CLO debt, further extending global access to our recognized track record, while highlighting our distinct positioning and leadership in global credit markets.”
Chris Long
Palmer Square Founder and CEO
PCL0 tracks the performance, before fees and expenses, of ECLOSE, a proprietary, research-driven benchmark launched by Palmer Square in 2024 with a performance track record starting in 2018. Designed to provide institutional investors with a transparent, rules-based, high-quality benchmark for Euro-denominated CLO senior debt, ECLOSE serves as one of the cornerstones for Palmer Square’s expansion into the European ETF market.
“Our ETFs are designed to simplify portfolio construction while facilitating a superior way of gaining market exposure to the senior debt tranches of Euro-denominated CLOs,” said Taylor Moore, Managing Director and Portfolio Manager at Palmer Square. “PCL0 will enable institutional investors to efficiently allocate to the universe of AAA and AA European CLO debt and achieve optimal market exposure with ease.”
Palmer Square manages more than $36 billion [Note 1] in assets.
Find out more about Palmer Square Cap and Palmer Square Exchange Traded Funds.
Note
Palmer Square Capital Management LLC’s AUM is unaudited. The AUM Is an estimate as of 7/31/2025 and is inclusive of Palmer Square Capital Management LLC and its affiliates.
Palmer Square UCITS ICAV (the "ICAV") is registered in Ireland pursuant to the Irish Collective Asset-management Vehicles Act 2015 and is authorised by the Central Bank of Ireland as a UCITS.
The authorisation of the ICAV by the Central Bank shall not constitute a warranty as to the performance of the ICAV and the Central Bank shall not be liable for the performance or default of any Fund of the ICAV. The authorisation of the ICAV is not an endorsement or guarantee of the ICAV by the Central Bank nor is the Central Bank responsible for the contents of this Prospectus.
Carne Global Fund Managers (Ireland) Limited (the "Manager") reserves the right to terminate the arrangements made for the marketing of the sub-fund and/or its shares in accordance with Article 93a of Directive 2009/65/EC and Article 31a of Directive 2011/61/EU. Prior notice of this cessation will be made in Ireland.
This is a marketing communication. Please refer to the Prospectus of Palmer Square UCITS ICAV (including the Supplements and KIID/KID for each relevant sub-fund of the Palmer Square UCITS ICAV available on etf.palmersquarefunds.com/ before making any final investment decisions. The investment which is promoted concerns the acquisition of units or shares in a fund and not in a given underlying asset owned by the fund.
The Shares of the Fund are intended exclusively for "Advanced Investors", "Professional Investors" and "Eligible Counterparties", each as prescribed in the current European MiFID template (as at the date of the Supplement). The sale of this Fund on the Secondary Market to Retail Investors is not permitted and the Fund shall not be offered to such Retail Investors.
The Fund is considered a complex product. Investors in the Fund are expected to understand and be able to evaluate the strategy, characteristics and risks of the Fund as disclosed in the Supplement, and in particular the risks associated with investments in CLOs, in order to make an informed investment decision. Investors are expected to have the knowledge of, and the investment experience in the financial markets generally.
There is no guarantee that the investment objective of any passively managed fund will be achieved. The performance of a sub-fund may not match the performance of the index it tracks due to factors including, but not limited to, the investment strategy used, fees and expenses, and taxes.
This communication is not directed at and must not be acted upon by persons inside the United States and is otherwise only directed at persons residing in jurisdictions where the relevant funds are authorised for distribution or where no such authorisation is required. The jurisdictions where distribution of the information is available at https://etf.palmersquarefunds.com/.
