Carlyle Raises $2.8B For Second Energy Credit Fund

Nov 1 2016 | 6:48pm ET

Carlyle Group has raised $2.8 billion for its second credit fund to focus on the beleaguered energy sector. 

The new fund, named Carlyle Energy Mezzanine Opportunities Fund II, will invest in power generation and energy-sector projects and companies, according to a company statement. Commitments are double what the firm raised for Carlyle’s initial energy credit fund, which closed in 2012. 

Transactions will range between $50 million to $500 million, the company said. “The second fund enables us to undertake larger transactions and fill a market need by providing investment capital to energy companies challenged to obtain capital from traditional sources,” said David Albert, co-head of the Energy Mezzanine team, in the statement. 

“We see opportunities to provide flexible capital as the industry recovers from a period of low commodity prices,” added Rahul Culas, co-head of the Energy Mezzanine team. “To date, we have made 15 investments across multiple energy subsectors, supported by our team of more than 20 investment professionals in New York and Houston.”

Carlyle’s credit platform resides within the company’s Global Market Strategies segment, which has $34 billion in assets under management. It consists of loans and structured credit funds, private credit, energy credit and distressed credit. Carlyle as a whole manages $169 billion in assets across 125 funds and 177 fund of funds vehicles as of September 30, 2016. 

In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...


FINalternatives Trending

From the current issue of