Carlyle Closes Latest Fund
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Carlyle Closes Latest Fund

The Carlyle Group has raised $2.5 billion for its fourth distressed and special situations fund, Carlyle Strategic Partners IV (CSP IV). The fundraising effort is more than triple the size of the previous fund and closed at the hard cap.

The CSP team in New York and London invests in the debt and equity of companies in the US, Europe and Asia experiencing financial, operational or cyclical distress. The fund has the flexibility to invest throughout the capital structure of a company in bank loans, public debt, public and private equity.

“Carlyle Strategic Partners IV builds on the team’s demonstrated ability to find attractive investments, establish control or exert influence, and drive value through operational improvements to generate compelling risk-adjusted returns,” said Shary Moalemzadeh, Managing Director and Co-head of CSP. “With the support of the Carlyle network, CSP IV is poised to source an increasing number of proprietary deals across an array of industries where we have deep sector expertise.”

Carlyle Strategic Partners is part of Carlyle’s global credit platform. The credit platform resides within the Global Market Strategies segment, which had $29 billion in assets under management as of December 31, 2016, and has 149 investment professionals in New York, Washington DC, Los Angeles, Chicago, Hong Kong and London.

The current global economic and market environment is laying the groundwork for solid distressed control and turnaround investment opportunities.
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Since 2004, the group has raised approximately $4.8 billion and invested in companies including Metaldyne, an automotive supplier of components for engines and transmissions; Brintons, a specialized global carpet manufacturer; Service King, one of the largest independent US chains of auto body repair shops; and Akari, an elderly nursing and residential home care provider in the UK.

“The current global economic and market environment is laying the groundwork for solid distressed control and turnaround investment opportunities.  We believe our experience and approach positions us well to capitalize on the best of these opportunities during the cycle,” said Ian Jackson, Managing Director and Co-head of CSP.

The Carlyle Group (NASDAQ: CG) invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation.  The firm employs approximately 1,600 people in 35 offices across six continents and is based in Washington, DC (www.carlyle.com).

© 2017 Private Equity Professional | February 24, 2017

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