Global alternative asset manager The Carlyle Group has closed a Collateralized Loan Obligation (CLO) fund in the U.S. totaling approximately $816 million.
The CLO, arranged by Citigroup, is the firm’s third of 2014 in the United States. Carlyle GMS CLO 2014-3 will invest predominantly in senior secured bank loans.
Including these latest closings, in 2014 Carlyle has raised approximately $3.23 billion in CLOs — $2.16 billion in the U.S. and $1.07 billion (777 million) in Europe, the second consecutive year in which Carlyle has raised more than $3 billion in new issue CLOs.
Carlyle’s structured credit/CLO business, with $17 billion in assets under management as of June 30, 2014, is part of the firm’s Global Market Strategies platform, which had approximately $38.2 billion in assets under management as of 30 June 2014.
The platform includes: mezzanine and energy mezzanine loans; high yield and structured credit; distressed equity and debt; and four hedge fund strategies (long/short credit, emerging market equities, macroeconomic and commodities). The GMS platform has more than 149 investment professionals in New York, Washington, DC, Los Angeles, Chicago, Hong Kong, and London.