Carlyle Group announces the closure of a collateralized loan obligation worth USD517 million
The Carlyle Group, the global asset manager, had announced the closure of a USD415 million collateralized loan obligation or CLO fund. This is the firm's sixth newest issue CLO this year, with four being in the US and two in the Europe. Named the Carlyle Global Market Strategies CLO 2013 to 2014 would invest in corporate leveraged loans and high yield bonds. The transaction was arranged by Wells Fargo.
The Carlyle Group is a global alternative asset manager that manages USD185 billion in assets under management. It has 122 funds and 81 fund of funds vehicles as of September 2013. The purpose of the firm is to invest wisely and create more value for its investors, many of which are public pensions. The investments done by Carlyle cover four segments, such as Corporate Private Equity, Real Assets, Global Market Strategies and Solutions in all the continents except Antartica. The company also has a multifaceted expertise in areas such as aerospace, defense and governmental services. It also provides expertise for consumer and retail, energy, financial services, healthcare, as well as technology, industrial and business services.
The third newest issue of the US CLO fund of 2013 was closed back in June for a value worth USD517 million. The close of the last CLO, Carlyle would have raised over USD2.16 billion in the US for 2013 alone. Since 2011, the firm has raised nearly of USD5.88 billion of CLOs globally, as it included the last month close of a EUR329.5 million European based CLO.
The firm's structured credit/CLO business having USD17.5 billion in assets under management is part of the overall Global Market Strategies platform, with almost USD35.4 billion in assets under management as of September 30,2013. This platform provides loans, credits, equity and debts as well as the top four management strengths.