Newstar Berkeley Fund CLO: 27 December 2016

A majority of the issuer’s investment portfolio consists primarily of middle market loans and participation interests in middle market loans. The portfolio will be managed by NewStar Financial, Inc. in its capacity as the Collateral Manager pursuant to the Collateral Management Agreement.

For the various Concentration Limitations, Collateral Quality Tests, the Portfolio Acquisition and Disposition Requirements, please see the relevant sections in the prospectus (available on www.euroabs.com).

NewStar is a specialised commercial finance company focused on companies and private investors in the middle market. NewStar focuses primarily on the direct origination of bank loans and equipment leases, and specialises in providing a range of senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalisations, as well as equipment purchases. As of 30 September 2016, NewStar has over 84 employees and manages approximately $6.7 billion of assets across its direct lending and asset management businesses.

It is anticipated that the issuer will have completed the purchase (or commitment to purchase) of approximately 85% (by principal amount) of the initial portfolio of Collateral Obligations on the closing date.


CRR 405: In the Retention of Net Economic Interest Letter, NewStar Commercial Loan Originator I LLC (the Retention Holder) will undertake that on an ongoing basis, for so long as any notes remain outstanding, it will retain a net economic interest, which may be financed under a loan facility or a repurchase agreement, which will be comprised of a retention within the meaning of paragraph (a) of Article 405(1) of the CRR, paragraph (a) of Article 51(1) of the AIFMD Level 2 Regulation and paragraph (a) of Article 254(2) of the Solvency II Level 2 Regulation in effect on the pricing date, by way of holding the minimum principal amount of each class of notes currently required by the applicable Retention Requirement Law, being an amount equal to 5%.