Carlyle closes first CLO this year

 The US firm’s Global Market Strategies platform has finalised the $403m securitisation that was arranged by JPMorgan.  

Carlyle's Global Market Strategies (GMS) group announced the closing of a $403 million CLO on Friday (22 April). Carlyle GMS CLO 2016-1 was arranged by JPMorgan and is the first of the year in the US for Carlyle, which has raised $15.8 billion in CLOs since 2011.

A Carlyle representative declined to comment further on the structure of the deal. 

CLO issuance was down 70 percent in the US in the first quarter according to Reuters, though more firms have been revealing CLO deals in recent weeks. Wellfleet Capital Partners closed on a $359 million CLO last week , while Crestline Denali reported a $359 million issuance in March .

Carlyle's structured credit / CLO business has about $19 billion in assets under management and is housed within the firm's broader (GMS) debt platform. GMS pursues mezzanine and energy mezzanine loans, high-yield and structured credit, as well as distressed equity and debt. The platform has about $35 billion in assets under management. It has about 200 employees and maintains offices in New York, Washington, D.C., Los Angeles, Chicago, Hong Kong and London.

The platform recently showed a $576 million first close on Carlyle Strategic Partners IV, which aims to raise $2 billion for investments in distressed assets and special situations.

Carlyle is headquartered in Washington, D.C. The alternative asset manager has about $183 billion in total assets across a variety of strategies, including private equity, credit, hedge funds and fixed income.