Institutional alternative investment management company Crestline Investors Inc. closed a $407.2 million collateralized loan obligation, Crestline Denali CLO XVII Ltd., by its Crestline Denali Capital unit.

The CLO is backed by a portfolio of senior-secured leveraged loans and has a five-year reinvestment period and a two-year non-call period.

The CLO is the second to be sponsored by the company in 2018, following the $409.6 million Crestline Denali CLO XVI Ltd. that closed March 8.

Barclays acted as arranger for the CLO.