The Carlyle Group has raised $1.35 billion for its second distressed debt and corporate opportunities fund. It can make investments in bank loans, public debt, public equity and private equity. Carlyle's first “Strategic Partners” fund closed last year with around $652 million in capital commitments.
Global private equity firm The Carlyle Group today announced it has raised $1.35 billion for its second distressed debt and corporate opportunities fund, Carlyle Strategic Partners II (CSPII). The CSP investment team invests in the debt and equity of operationally sound, financially distressed companies.
“We are grateful for the strong support of our investors who recognize that the turbulent economic and capital markets environment and excessive leverage on corporate balance sheets creates great opportunities for distressed investing around the globe,” said Brett Wyard, Managing Director and Co-head of CSP.
CSP seeks to obtain influence or control whenever possible and appropriate in its portfolio investments to drive returns and value through its involvement in restructuring processes and at the management and board levels.
“With the support of the Carlyle organization, CSP is now poised to source an increasing number of proprietary deals across virtually all industries as well as achieve unique industry insights on mainstream distressed situations,” said Ray Whiteman, Managing Director and Co-head of CSP.
CSP has the flexibility to invest throughout the capital structure in bank loans, public debt, public and private equity.
Following its sale of portfolio company, Stellex Aerostructures to GKN, CSP received the 2007 Turnaround of the Year Award by Buyouts Magazine and 2007 Midsize Company Turnaround Award by the Turnaround Management Association.
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The Carlyle Group is a global private equity firm with $81.1 billion under management committed to 60 funds. Carlyle invests in buyouts, venture & growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $43.0 billion of equity in 774 transactions for a total purchase price of $229.3 billion. The Carlyle Group employs more than 1,009 people in 21 countries. In the aggregate, Carlyle portfolio companies have more than $87 billion in revenue and employ more than 286,000 people around the world. www.carlyle.com