The fund will invest in private capital solutions – primarily for upper middle market borrowers, including non-private equity sponsored, family or entrepreneur-owned companies seeking an alternative to traditional capital markets or private equity, said a press statement.
Including available leverage, investable capital by CCOF increases to $3.1 billion.
The fund has already committed approximately $850 million to ten businesses in North America and Europe across various industries.
“Carlyle’s Credit Opportunities Fund is meeting a growing need for bespoke capital solutions among borrowers seeking an alternative to traditional debt markets or private equity. Leveraging Carlyle’s global platform, we seek to source and drive value in complex or overlooked investment opportunities while structuring strong downside protection and current yield,” said Alexander Popov, Managing Director and Head of the Carlyle Credit Opportunities team.
Carlyle’s Global Credit platform, with $46 billion in assets as of March 31, 2019, includes funds in liquid credit, illiquid credit and real assets credit. These businesses have more than 100 investment professionals in the US, Hong Kong and London. Carlyle has $222 billion of assets under management as of March 31, 2019.
A 15-person team based in New York and London advises the Carlyle Credit Opportunities Fund, and invests across the capital structure through a combination of secured loans, senior subordinated debt, mezzanine debt, convertible notes and other debt-like instruments, as well as preferred and common equity.
In June last year, Carlyle had closed its fifth Asia fund at $6.55 billion, exceeding its target of $5 billion and 65% more than its previous fund.
In India, Carlyle has invested more than $2 billion through 35 transactions across all Carlyle funds. Its current investments in India include SBI Cards, PNB Housing Finance, SBI Life Insurance, Metropolis Healthcare, Medanta Hospitals and Delhivery Logistics.
Last year, another PE major KKR& Co had closed KKR Private Credit Opportunities II, a $2.24 billion global fund for privately negotiated subordinated debt securities, corporate mezzanine investments as well as asset-backed and specialty finance investments.
- Social policy credit proves useful for poverty reduction: meeting
- Chinese developers' offshore bond pipeline meets firm new year demand
- Ather Energy raises $51Mn led by Sachin Bansal, plans 1 million unit factory
- Cuts may undermine work incentives in universal credit
- STEPHEN GLOVER: Forget new railways... In a post-Brexit world, we simply MUST spend more on defence
- Manufacturing industry raises 1t yuan funds in 2019
- Liquidity surges to Rs 4 lakh cr, due to redemption, sluggish credit
- Tossing Billions at the Net
- Trump takes credit for decline in cancer deaths. The American Cancer Society says he's wrong
- Blackstone raises three-quarters of targeted $4.6 billion life sciences fund
- AT&T et al. fight against higher upload speeds in $20-billion FCC program
- IMF boss says raise taxes on the rich to tackle inequality
- Tightening credit for luxury home purchases might rock realty market: experts
- New Year Honours list in full: All the people rewarded in 2020 for services to UK
- $1.43 billion restoration of 36,000 acres of bay wetlands floated in report
- Australia's fires have killed over a billion animals. Here's how to help
- What SoftBank’s new vision means for Indian industry
- Social policy credit lifts 2 million ethnic families out of poverty
- Insight Partners acquires enterprise security firm Armis in $1.1 billion deal
- A Saudi family feud, a decade-long debt saga and a court's $14 billion decision
Carlyle raises $3 billion for new credit opportunities fund have 534 words, post on economictimes.indiatimes.com at July 12, 2019. This is cached page on Travel News. If you want remove this page, please contact us.