Carlyle GMS raises $4.7bn in 2013

Carlyle’s Global Market Strategies platform oversees many of the firm’s structured credit and debt-related investments. 

The Carlyle Group’s Global Market Strategies platform (GMS) raised $4.7 billion in non-hedge fund-related strategies last year, according to a 2013 and fourth quarter earnings report released on Wednesday.

A large chunk of the firm’s GMS fundraising came from its CLO business, which added $3.1 billion in assets through six new CLOs last year. Total assets under management for the platform grew by 9 percent $35.5 billion compared to $33.4 billion at the end of 2012, according to the report.

The GMS platform oversees Carlyle’s investments in distressed and corporate opportunities, structured credit, corporate and energy mezzanine as well as the firm’s various hedge fund strategies.

The platform generated $228 million in economic net income on the year and realised $110 million in net performance fees, $79 million of which came in Q4. In 2012, Carlyle GMS realised $66 million in net performance fees.

Carry funds managed by the GMS platform realised $1.05 billion in proceeds last year. The platform invested $846 million in equity across 15 investments, according to the earnings report.

“Carlyle experienced a strong year in 2013 across virtually every metric,” said the firm’s co-chief executive officer David Rubenstein in a statement. “Our fund and financial performance over the past year demonstrates the advantage of our long term focus, which benefits both our fund investors and unitholders.”