Global alternative asset manager The Carlyle Group has closed two Collateralized Loan Obligation funds in the U.S. and Europe totaling $1.25 billion. Carlyle GMS CLO 2014-1 and Carlyle GMS Euro CLO 2014-1 will invest predominantly in senior secured bank loans.
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced the closings of two Collateralized Loan Obligation (CLO) funds in the U.S. and Europe totaling $1.25 billion. The $727 million U.S. CLO, arranged by Morgan Stanley, and the €375 million European CLO, arranged by Credit Suisse, were the firm’s first of 2014 in each region. Carlyle GMS CLO 2014-1 and Carlyle GMS Euro CLO 2014-1 will invest predominantly in senior secured bank loans.
In 2013 Carlyle raised more than $3 billion in new issue CLOs, including $2.16 billion in the U.S. with four CLOs, and €685 million from two European CLOs.
Colin Atkins, Carlyle Managing Director and head of European Structured Credit, said, “After a strong 2013, we are pleased to see continued momentum into 2014. In a challenging environment, our capabilities have enabled us to continue to find a steady supply of loans for our CLO products.”
Linda Pace, Managing Director and head of U.S. Structured Credit, said, “Our ability to source assets and remain disciplined in our credit selection, as well as being active in the secondary loan market, has been extremely important in this extended period of demand outpacing supply.”
Carlyle’s structured credit/CLO business, with $17.2 billion in assets under management, is part of the firm’s Global Market Strategies platform, which had approximately $35.4 billion in assets under management as of December 31, 2013. The platform includes: mezzanine and energy mezzanine loans; high yield and structured credit; distressed equity and debt; and four hedge fund strategies (long/short credit, emerging market equities, macroeconomic and commodities). The GMS platform has more than 148 investment professionals in New York, Washington, DC, Los Angeles, Chicago, Hong Kong, and London.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with approximately $189 billion of assets under management across 118 funds and 106 fund of funds vehicles as of December 31, 2013. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,500 people in 34 offices across six continents.