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Laxman Pai, Opalesque Asia: The Carlyle Group closed its opportunistic credit fund, Carlyle Credit Opportunities Fund III (CCOF III), at $7.1 billion, marking its largest credit fundraising to date.
The alternative asset manager said in a media release that this includes $5.7 billion in commitments from various global institutions, including new and existing CCOF investors, and available leverage. The $19.4 billion Ohio School Employees Retirement System, Columbus, is an investor in the fund approving a $100 million commitment in March.
"We appreciate the ongoing support of our investors, many of whom were repeat investors from our previous funds. With the global economy in a period of prolonged transformation, our Credit Opportunities strategy is well-positioned to expand our reach and provide timely, strategic capital to companies navigating complex situations," said Alex Popov, Head of Private Credit at Carlyle.
CCOF III is nearly 30% larger than its predecessor fund and brings total investable capital across the opportunistic credit strategy to approximately $17 billion.
According to the release, CCOF III has invested or committed more than $2.4 billion - or 33% of investible capital - in 25 investments across North America, Europe, and Asia Pacific.
The team provides borrowers with highly structured and privately negotiated solutions across the capital structure to family, founder, and management-owned companies, sponsor-backed companies, and spec...................... To view our full article Click here
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