Alternative asset manager Carlyle Group has closed a EUR335 million Collateralized Loan Obligation (CLO) fund, the firm’s second new-issue CLO in Europe this year.
Carlyle GMS Euro CLO 2013-2 will invest predominantly in new issue and secondary market European senior secured bank loans. Citibank arranged the transaction.
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Carlyle’s first new-issue European CLO in 2013 closed in June at EUR350 million. According to S & P Capital IQ LCD, aggregate CLO issuance in 2013 in Europe now stands at approximately EUR4.5 billion from 14 deals, including Carlyle GMS Euro CLO 2013-1 and 2013-2.
In February of 2012, Carlyle made its first CLO purchase in Europe when it acquired management contracts on EUR2.1 billion in European CLO assets from Highland Capital Management.
Colin Atkins, managing director and head, European structured credit at Carlyle said, "We are pleased to have established ourselves as a repeat issuer in the European CLO market and intend to be a continued presence as we are with our US CLO business."
Carlyle’s structured credit/CLO business, with US$17.4 billion in assets under management as of June 30, 2013, US$6.48 billion (EUR4.8) of which are in Europe, is part of the firm’s Global Market Strategies (GMS) platform.
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By GlobalDataGMS has more than US$34 billion in assets under management as of June 30, 2013. The platform includes: mezzanine and energy mezzanine loans; high yield and structured credit; distressed equity and debt; and four hedge fund strategies (long/short credit, emerging market equities, macroeconomic and commodities).
The GMS platform has more than 200 investment professionals in New York, Washington, DC, Los Angeles, Chicago, Hong Kong, and London.
