The Carlyle Group said on Monday that it has closed €350 million for its new European CLO fund. The fund will invest in new issue and secondary market European senior bank loans. Barclays arranged the transaction.
London, UK – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced the closing of a €350 million Collateralized Loan Obligation (CLO) fund, the firm’s first new-issue CLO in Europe this year. Carlyle GMS Euro CLO 2013-1 will invest predominantly in new issue and secondary market European senior secured bank loans. Barclays arranged the transaction.
The CLO represents one of the first in Europe since the 2008 financial crisis. In February of 2012, Carlyle made its first CLO purchase in Europe when it acquired management contracts on €2.1 billion in European CLO assets from Highland Capital Management.
Colin Atkins, Carlyle Managing Director and Head of European Structured Credit, said, “We are pleased to be at the forefront of the re-emergence of the European CLO market and our intention is to be a repeat issuer similar to our US CLO business”.
Carlyle’s structured credit/CLO business, with $16.7 billion in assets under management, $5.97 billion (€4.7) of which are in Europe, is part of the firm’s Global Market Strategies platform. GMS has more than $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.
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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.