The Carlyle Group said today it recently added $1 billion in new CLO assets under management.
On Aug. 3, Carlyle purchased the management contracts of a $500 million CLO from The Foothill Group. The purchase was approved by the current investors in the CLO, which can reinvest for roughly the next two and a half years.
Carlyle also issued a $507 million CLO, called Carlyle Global Market Strategies 2011-1, its first new issue since 2008, in a deal that closed July 21. It was arranged by Wells Fargo and Mitsubishi UFJ Securities.
The two transactions boosted assets under management by Carlyle’s structured credit team to $12.7 billion in 31 collateral loan funds in the U.S. and Europe.
“We see continued opportunity in both acquisitions and the new issue market. CLOs are proven performers over the long-term,” Linda Pace, a Carlyle managing director and head of U.S. structured credit, said in a statement.
