Carlyle Ended Another Energy Credit Fund At $2.8B; Marks Its Second

By Czarina Ara Lasco

Nov 02, 2016 06:00 AM EDT

Commitments are double what the firm raised for Carlyle's initial energy credit fund, Carlyle Energy Mezzanine Opportunities, which closed in 2012.

The fund also topped its $2.5 billion fundraising mark. Carlyle's purpose is to help its investors, many of whom are public pensions to invest cleverly and generate value.

"We are grateful for our investors' continued support. The second fund enables us to undertake larger transactions and fill a market need by providing investment capital to energy companies challenged to obtain capital from traditional sources," said co-head of the Energy Mezzanine team, David Albert.

Carlyle Energy Mezzanine Opportunities Fund II (CEMOF II) will capitalize in ventures and firms in the power generation and energy sectors requiring capital of $50 million to $500 million per operation.

Global Market Strategies segment is Carlyle's main stage, which has $34 billion in assets under management. It entails loans and structured credit funds, private credit, energy credit and distressed credit. Carlyle all in all manages $169 billion in assets across 125 funds and 177 fund of funds vehicles as of September 30, 2016.

Carlyle has proficiency in numerous trades, going with: aerospace, defence & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group accomodates more than 1,625 people in 35 offices across six continents.

"We see opportunities to provide flexible capital as the industry recovers from a period of low commodity prices. To date, we have made 15 investments across multiple energy subsectors, supported by our team of more than 20 investment professionals in New York and Houston," added Rahul Culas, co-head of the Energy Mezzanine team.

The $54.9 billion Michigan Department of Treasury, Bureau of Investments, East Lansing; $25.5 billion Texas Employees Retirement System, Austin; and $24.3 billion Texas Municipal Retirement System, Austin are the investors included in the fund.

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