The Carlyle Group (Nasdaq: CG) has closed its fourth collateralized loan obligation (CLO) of 2016 with nearly $507 million in capital. The fund, Carlyle GMS CLO 2016-4, was arranged by Citigroup Inc. (NYSE: C) and will invest predominantly in senior secured loans.

The new CLO is nearly $104 million more than firm’s first fund of 2016, Carlyle GMS CLO 2016-1, that closed in April 2016. The Carlyle GMS CLO 2016-1 was raised to primarily target senior secured bank loans. With the closing of the new fund, Carlyle’s CLO business now has approximately $18.8 billion in assets under management. The PE firm also raised CLOs in 2015 and in 2014.

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