Reuters logo
REFILE-Carlyle says adds $1 bln CLO assets under management
August 10, 2011 / 5:25 PM / 6 years ago

REFILE-Carlyle says adds $1 bln CLO assets under management

(Refiles to fix links to stories; no change to text)

NEW YORK, Aug 10 (Reuters) - Private equity firm Carlyle Group CYL.UL said on Wednesday it has bought the management contracts of a $500 million CLO, has created a $507 million CLO, and sees more opportunity to expand further in that area.

Collateralized loan obligations (CLOs) are packages of leveraged loans that are sold to investors as bonds. [ID:nN03111661] A resurgence in the U.S. CLO market -- hard hit by the credit crisis -- had been seen earlier this year. [ID:nN15285557]

Carlyle said it recently closed its first newly issued CLO since 2008, a $507 million CLO called Carlyle Global Market Strategies 2011-1. It priced the CLO in July, RLPC reported. [ID:nRLP16767a]

It also recently bought the management contract of a $500 million CLO from The Foothill Group Inc.

Carlyle said its structured credit team now advises 31 collateral loan funds in the United States and Europe totaling $12.7 billion in assets under management. It said it sees continued opportunity for acquisitions and in the new issue market for CLOs.

Rival Apollo Global Management (APO.N) in July agreed to a deal to buy Charlotte, North Carolina-based Gulf Stream Asset Management, which manages 10 collateralized loan obligations.

Apollo said on Tuesday that the area is “clearly consolidating” and that it wants to be a consolidator in the CLO and senior loan space. (Editing by Maureen Bavdek and Gerald E. McCormick)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below