The Carlyle Group has closed two CLOs in the US and Europe totaling $1.25 billion, the firm announced in a statement on Thursday.
The CLOs belong to the firm’s $17.2 billion structured credit business, a component of its $35.4 billion Global Market Strategies (GMS) platform. Morgan Stanley arranged the US CLO, which totals $727 million. The €375 million European CLO was arranged by Credit Suisse. Both vehicles will invest predominantly in senior secured bank loans.
Last year, Carlyle GMS closed six new CLOs with a combined $3.1 billion of assets, a total that includes the platform’s first two vehicles in Europe since the financial crisis.
“After a strong 2013, we are pleased to see continued momentum into 2014. In a challenging environment, our capabilities have enabled us to continue to find a steady supply of loans for our CLO products,” said Carlyle managing director Colin Atkins in a statement.
For more background on Carlyle GMS and its CLO business, be sure to check out Capital Talk in Private Debt Investor’s forthcoming April issue.