MCF CLO 10 Ltd. is a $421.09 million middle-market CLO managed by Apogem Capital LLC (formerly known as Madison Capital Funding LLC), a wholly owned subsidiary of New York Life Insurance Co. Based on provisions in the transaction documents and the portfolio characteristics: The transaction will be collateralized by at least 95.00% senior secured loans, cash, and eligible investments, with a minimum of 90% of the loan borrowers required to be based in the U.S., Canada, or U.K. A maximum of 10.00% of the loans in the collateral pool can be covenant-lite. Of the identified underlying collateral obligations, 100.00% have credit ratings (which may include confidential ratings, private ratings, and credit estimates) assigned by S&P Global Ratings. Of the identified