The Carlyle Group (Nasdaq: CG) continues to receive interest from investors as they have just raised a new credit fund, called Carlyle Structured Credit Fund (CSC), with approximately $800 million in committed capital. The current fundraise comes less than a month after the investment firm closed another collateralized loan obligation (CLO) fund.
The new CSC fund, according to the firm, will invest in CLOs backed by U.S. and European senior secured corporate loans that are actively managed by third parties. The resurgence of middle-market CLO funds is the cause for a number of firms raising more funds as of late.
“We believe CLOs offer attractive risk-adjusted investment opportunities for investors who understand structural complexity and underlying credit fundamentals,” says Caryle representatives Justin Plouffe and Ronnie Jaber. “With this expertise and fund structure, we believe we are well-positioned to find the best opportunities to deploy capital in this environment.”
Headquartered in Washington, D.C., the Carlyle Group is a global asset management firm with offices across North America, South America, Europe, the Middle East, Africa, Asia and Australia. With the Carlyle US CLO 2017-4 fund, Carlyle’s structured credit and CLO business has approximately $20.5 billion in assets under management.
Carlyle is joined by a number of firms raising this type of debt fund. Antares Capital raised its first CLO fund in May with nearly $2.1 billion in commitments; Madison Capital Funding LLC, the directing lending arm of New York Life Insurance Co., closed a $325 million fund; and Trinitas Capital Management LLC closed the firm’s sixth CLO.