The Carlyle Group said Wednesday that it has added $1 billion in new CLO assets under management to its structured credit portfolio. This includes a $507 million CLO called Carlyle Global Market Strategies 2011-1 and a $500 million CLO of management contracts acquired from the Foothill Group earlier this month.
Global alternative asset manager The Carlyle Group today announced that it recently added $1 billion in new CLO assets under management to its structured credit portfolio. The assets consist of Carlyle’s first newly-issued CLO since 2008 (a $507 million CLO called Carlyle Global Market Strategies 2011-1), and a $500 million CLO whose management contract Carlyle purchased from The Foothill Group Inc. Carlyle’s structured credit team now advises 31 collateral loan funds in the United States and Europe totaling $12.7 billion in AUM.
Linda Pace, Carlyle Managing Director and Head of U.S. Structured Credit, said, “We see continued opportunity in both acquisitions and the new issue market. CLOs are proven performers over the long-term.”
Carlyle Global Market Strategies CLO 2011-1, a $507 million CLO that can reinvest for four years, invests in corporate leveraged loans and high yield bonds. Wells Fargo and Mitsubishi UFJ Securities jointly arranged the transaction, which closed on July 21.
On August 3rd Carlyle purchased the management contracts of a $500 million CLO from The Foothill Group, Inc. The purchase was approved by the current investors in the CLO, which can reinvest for approximately the next two and a half years. The CLO, Foothill CLO I Ltd., invests in corporate leveraged loans and high yield bonds.
The Structured Credit team is part of Carlyle’s Global Market Strategies platform. In the past 12 months, Carlyle has added 17 CLOs to its platform, totaling $5.9 billion of AUM. Carlyle’s structured credit funds invest primarily in performing senior secured bank loans through structured and other investment vehicles. Carlyle’s structured credit team now advises 31 collateral loan funds in the United States and Europe totaling $12.7 billion in AUM.
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About The Carlyle Group
The Carlyle Group is a global alternative asset manager operating across four segments – corporate private equity, real assets, global market strategies and fund of funds solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America focusing on aerospace, defense & government services; consumer & retail; energy; financial services; healthcare; industrial; technology & business services; telecommunications & media; and transportation. The Carlyle Group employs more than 1,100 people in 20 countries.