Asset manager the Carlyle Group (Nasdaq: CG) has closed a new fund totaling approximately $512 million.
The Washington, D.C.-based firm's latest fund raising venture is a collateralized loan obligation (CLO). It is Carlyle's fifth U.S. fund in 2014 and is part of a global market strategies (GMS) program.
The initiative has about $39 billion in assets under management as of Sept. 30, and includes mezzanine and energy mezzanine loans; high yield and structured credit; distressed equity and debt. More than 157 investment professionals work within Carlyle's GMS segment, based out of the company's headquarters, New York, Los Angeles, Chicago, London and Hong Kong.
The fund, dubbed Carlyle GMS CLO 2014-5, will invest in senior secured bank loans.
Including this latest closing, Carlyle has raised $7.89 billion in CLOs since the beginning of 2013. For 2014, it raised $4.8 billion. This includes $3.24 billion in the U.S. and $1.54 billion in Europe.