Alternative asset manager The Carlyle Group has closed a EUR335m collateralised loan obligation (CLO) fund, the firm’s second new-issue CLO in Europe this year.
Carlyle GMS Euro CLO 2013-2 will invest predominantly in new issue and secondary market European senior secured bank loans. Citibank arranged the transaction.
Carlyle’s first new-issue European CLO in 2013 closed in June at EUR350m. According to S&P Capital IQ LCD, aggregate CLO issuance in 2013 in Europe now stands at approximately EUR4.5bn from 14 deals, including Carlyle GMS Euro CLO 2013-1 and 2013-2. In February 2012, Carlyle made its first CLO purchase in Europe when it acquired management contracts on EUR2.1bn in European CLO assets from Highland Capital Management.
Colin Atkins, Carlyle managing director and head of European structured credit, says: “We are pleased to have established ourselves as a repeat issuer in the European CLO market and intend to be a continued presence as we are with our US CLO business.”