The Carlyle Group raises $2.4bn

The US-based global investment firm held a final close on its debut private debt fund.

The Carlyle Group held a final close of its debut Carlyle Credit Opportunities Fund (CCOF) at $2.4 billion exceeding its $2 billion target. The fund will focus on originated private capital solutions predominantly for upper middle market borrowers, which consists of non-private equity sponsored family or entrepreneur-owned companies.

The CCOF has committed around $850 million in ten businesses across various industries in North America and Europe. The investments include a listed media company, a home-building company, and a subsidiary of a large corporate focused on renewable energy among others.

The fund will invest through a combination of senior subordinated debt, secured loans, mezzanine debt, convertible notes, preferred and common equity, and other debt-like instruments.