Global private equity firm Carlyle Group has announced the final close of Carlyle Credit Partners Financing I, the tenth collateralised loan obligation to be launched by Carlyle's US leveraged finance team's with USD450m in capital.
The fund uses a traditional CLO structure including AAA, AA and BBB rated liabilities; it was structured by JPMorgan, which also served as the placement agent.
'While the current market dynamics remain challenging for all participants, our extensive experience and expertise enabled us to swiftly raise this new CLO,' says Carlyle managing director and leveraged loan portfolio manager Linda Pace.
Carlyle now manages a total of USD10.3bn in leveraged finance assets, while the US leveraged finance team manages seven CLOs, a synthetic CLO and a credit opportunity fund, totalling USD4.4bn in assets.
The group's mezzanine team manages two closed-end mezzanine funds dedicated to privately-negotiated junior debt and equity investments in middle market companies, while its global distressed and corporate opportunities business manages two closed-ended distressed investment funds. Carlyle's European leveraged finance team manages seven CLO funds including a credit opportunity fund, a low levered fund and a synthetic fund.
'Carlyle Credit Partners Financing I enables us to buy senior secured bank loans at attractive prices and finance them with 12 year debt with no mark-to-market pricing triggers,' says Michael Zupon, a managing director and head of the US leveraged finance team. 'This is a great way to own high-yielding loans in today's volatile markets. We greatly appreciate JPMorgan's leadership and the strong support of our investors.'