The Carlyle Group Closes $450 Million Loan Fund, CCP Financing I Ltd.;CCPF I is the U.S. Leveraged Finance Team’s Tenth CLO;Global Leveraged Finance Group Now Manages $10.3 Billion in Assets
New York, NY – Global private equity firm The Carlyle Group today announced the final close of Carlyle Credit Partners Financing I, Ltd. (CCPF I), a $450 million Collateralized Loan Obligation (CLO). CCPF I is the U.S. Leveraged Finance Team’s tenth CLO. CCPF I utilizes a traditional CLO structure including AAA, AA and BBB rated liabilities. JPMorgan structured the fund and served as the placement agent.
Linda Pace, Carlyle Managing Director and Leveraged Loan Portfolio Manager, said, “While the current market dynamics remain challenging for all participants, our extensive CLO experience and expertise enabled us to swiftly raise this new CLO.”
Globally, Carlyle now manages $10.3 billion in leveraged finance assets. Carlyle U.S. Leveraged Finance manages seven CLOs, a synthetic CLO and a Credit Opportunity Fund, totaling $4.4 billion in assets. Carlyle Mezzanine manages two closed-end mezzanine funds, dedicated to privately negotiated junior debt and equity investments in middle market companies. Carlyle Global Distressed and Corporate Opportunities manages two closed-end distressed investment funds. Carlyle Europe Leveraged Finance manages seven CLO funds including a credit opportunity fund, a low levered fund and a synthetic fund.
Michael Zupon, Managing Director and head of the U.S. Leveraged Finance Team, said, "CCPF I enables us to buy senior secured bank loans at attractive prices and finance them with 12 year debt with no mark-to-market pricing triggers. This is a great way to own high yielding loans in today's volatile markets. We greatly appreciate JPMorgan’s leadership and the strong support of our investors.”
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