The Carlyle Group (Nasdaq: CG) has raised a distressed and special situations fund, called Carlyle Strategic Partners IV (CSP IV), with approximately $2.5 billion in capital commitments. The new fund will invest in the debt and equity of U.S., European and Asian companies.
CSP IV provides support to businesses experiencing financial, operational or cyclical distress. The new fund is the fourth of its kind for Carlyle, raising nearly three times the size of the firm’s preceding fund, Carlyle Strategic Partners III. CSP IV has the financing flexibility to invest throughout the capital structure of a company in bank loans, public debt, and public and private equity. Carlyle Strategic Partners is a part of the firm’s global credit segment.
Headquartered in Washington, DC, the Carlyle Group is a global asset management firm with offices across North America, South America, Europe, the Middle East, Africa, Asia and Australia. The firm has nearly $158 billion in assets under management across 281 investment vehicles. Recently, the firm closed a collateralized loan obligation with $507 million in committed capital and also raised a $2.8 billion credit fund. Carlyle also acquired consumer data provider Claritas from Nielsen (NYSE: NLSN)
Private equity funds have been actively raising funds recently. Related capital raises include: Vector Capital’s fifth private equity fund; Monroe Capital LLC’s $800 million credit fund; Chicago-based NXT Capital LLC’s fourth debt fund at $900 million; and Audax Group’s nearly $1.2 billion mezzanine fund.