Connecticut’s Treasurer considers $150 mln pledge to Carlyle BDC

Carlyle Global Market Strategies Finance will lend to middle-market companies, investing in below-investment-grade, floating-rate, senior secured and unitranche loans to privately-held U.S. middle-market companies. The opportunity would offer exposure to senior floating-rate loans in an effort to mitigate the adverse impact of rising interest rates during the expected five-year investment term, the spokesperson said.

The investment is expected to generate net total returns between 9 percent and 11 percent annually, according to information from the Treasurer’s office.

As of September 30, Carlyle GMS Finance had net assets of about $123.7 million, according to a filing with the U.S. Securities and Exchange Commission.

Meanwhile, Connecticut’s Treasurer has approved an investment of $125 million to Apollo Global Management’s Fund VIII, which may raise a total of $17 billion. The commitment is contingent on negotiations of fund documents, the spokesperson said.

Chris Witkowsky is editor of peHUB