Carlyle plans more CLOs as closes 350 mln euro fund

LONDON, June 17 Mon Jun 17, 2013 12:57pm EDT

LONDON, June 17 (Reuters) - Private equity firm The Carlyle Group said on Monday it had raised a 350 million euro ($467.16 million) Collateralized Loan Obligation (CLO) fund to invest in European bank loans.

CLOs package leveraged loans into different slices of risk and sell them to investors as bonds with varying yields.

The fund, Carlyle GMS Euro CLO, is the firm's first new-issue CLO in Europe this year and one of the first in Europe since the 2008 financial crisis. It will invest mainly in new issue and secondary market European senior secured bank loans.

"We are pleased to be at the forefront of the re-emergence of the European CLO market and our intention is to be a repeat issuer similar to our US CLO business," Colin Atkins, Head of European Structured Credit at Carlyle, said in a statement.

The deal was arranged by Barclays.

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