Carlyle Raises $1.35B For Distressed Companies Fund

Apr 8 2008 | 11:16am ET

The Carlyle Group isn’t letting the collapse of its Carlyle Capital Corp. hedge fund keep it from the distressed debt market.

Carlyle has raised $1.35 billion for its second distressed debt and corporate opportunities fund, Carlyle Strategic Partners II, which will invest in the debt and equity of “operationally sound, financially distressed companies.”

In an interview, a Carlyle spokesman said “there is not a shred of similarity between” the new offering, which has the flexibility to invest throughout the capital structure in bank loans, public debt, public and private equity, and Carlyle Capital Corp, which made bets on tripeA-rated residential mortgage assets.
 
Last month, offshore legal firm Bedell Cristin Guernsey was appointed by the liquidators of Carlyle Capital to provide Guernsey legal advice on the liquidation. With reported residential mortgage assets of $21.7 billion, Carlyle Capital is by far the largest and internationally high profile compulsory liquidation ever brought before Guernsey’s courts, according to Bedell Cristin.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of