The Carlyle Group said on Friday that it has closed a $517 million CLO fund. The fund, which is part of Carlyle’s Global Market Strategies platform, will invest in corporate leveraged loans and high yield bonds. The transaction was arranged by Citibank.
NEW YORK–(BUSINESS WIRE)–Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced the closing of a $517 million Collateralized Loan Obligation (CLO) fund, the firm’s third new-issue CLO in the US this year. Carlyle Global Market Strategies CLO 2013-3 will invest in corporate leveraged loans and high yield bonds. Citibank arranged the transaction.
Carlyle’s second new-issue CLO fund of 2013 closed in March at $623 million. With the close of its third CLO this year, Carlyle has raised more than $1.7 billion in the US in 2013. Since the beginning of 2012 the firm has raised approximately $4.5 billion of CLOs globally including the close this month of a €350 million European CLO.
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 has approximately $33 billion in assets under management as of March 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 200 investment professionals in New York, Washington, DC, Los Angeles, Chicago, Hong Kong, and London.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $176 billion of assets under management across 114 funds and 76 fund of funds vehicles as of March 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, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,400 people in 34 offices across six continents.