Private equity giant the Carlyle Group has closed its debut European collateralised loan obligation (CLO) fund with commitments of €450m. The fund will invest mainly in Euro-denominated senior secured and mezzanine leveraged loans and is already 60 per cent invested. Mike Ramsay, managing director, said, ‘The European leveraged loan market has matured considerably for non-bank investors since 1999 and it is significant that European funds are now setting records on pricing.’
Carlyle’s European leveraged loan business was only launched in September 2004. The unit is based in London under Mike Ramsay, and now has six investment professionals.
Carlyle has only just announced the final close on its $7.8bn US buy-out fund and $2.2bn European buy-out funds, consolidating its position as one of the largest private equity firms in the world.
Its range of activities stretch from venture capital to leveraged finance and it is currently developing plans for a hedge funds unit. The firm is also spread across the globe, with a major presence in the US, Europe and Asia.