The debt management arm of UK-listed private equity house 3i Group has raised €525 million for a new type of Volcker-compliant collateralised loan obligation, as uncertainty continues about exactly what CLOs are permissible under the new US rules.

The CLO - Harvest CLO IX - has invested in a total of €419.5 million of investment grade debt, according to a statement from 3i. It has invested in a further €105.5 million of non-investment grade mezzanine and subordinated notes - forms of debt which rank lowly in a company's capital structure.