The Carlyle Group has closed a collateralized loan obligation fund totaling about $816 million. The CLO was arranged by Citigroup and is Carlyle’s third this year in the United States. The CLO fund will invest primarily in senior secured bank loans. With this closing, Carlyle has raised about $3.23 billion in CLOs this year—$2.16 billion in the United States and $1.07 billion in Europe.
British private equity firm ECI Partners said it raised 500 million pounds ($823 million) for its tenth buyout fund, mainly from existing institutional investors. The new fund will focus on making buyouts with an enterprise value of 10 million pounds to 150 million pounds, the firm said.
Elm Equity Partners has completed fundraising, which was substantially oversubscribed. The size of the fund was undisclosed. Elm Equity Partners will continue its investment strategy targeting lower mid-market administrative services, technology, healthcare and niche educational companies with revenues of $5 million to $50 million for control buyout transactions.
European Capital Debt Management has closed its European Capital UK SME Debt fund. The fund will provide debt finance in small and medium sized enterprises in the UK.
Glennmont Partners, a spin-out from French bank BNP Paribas, has closed its second fund, Clean Energy Fund II, on 500 million euros ($656 million), exceeding its target of 450 million euros. The fund is focused exclusively on investment in clean energy infrastructure.
Oak Hill Capital Partners LP is considering raising a smaller fund than its previous $3.8 billion flagship buyout fund, according to people familiar with the matter. While no fundraising target has been set, Oak Hill has told prospective investors it may raise between $2 billion and $3 billion once it starts fundraising by the end of the year, the sources told Reuters.
Turnbridge Capital Partners has closed its debut fund, Turnbridge Capital Partners I LP, on its hard cap of $400 million. Eaton Partners worked as placement agent on the fundraising.