The Carlyle Group has closed its maiden European collateralised loan obligation (CLO) fund, CELF Loan Partners with commitments of €450m.
CELF Loan Partners is issuing the notes and will invest the proceeds after paying transaction fees and expenses in a portfolio of predominantly senior secured and mezzanine leveraged loans. The transaction has a six-year reinvestment period and the manager is CELF Investment Advisors Ltd. (CELF).
The CELF team has extensive prior experience in managing CDOs, having executed
eight between them in the European market. The CELF Loan Partners CLO
transaction will be Carlyle’s first European CLO.