The Carlyle Group Closes $525 Million High Yield Fund, CHYP VIII; Leveraged Finance Group Now Manages $5.6 Billion in Assets

Washington, DC - Global private equity firm The Carlyle Group today announced the close of its eighth U.S. high yield fund, Carlyle High Yield Partners VIII (CHYP VIII), at $525 million. The fund will invest a minimum of 95 percent of its assets in bank loans and a maximum of 5 percent in high yield bonds and utilizes a traditional CLO structure.

Linda Pace, Carlyle Managing Director and Leveraged Loan Portfolio Manager, said, "Our seven year track record in managing leveraged loans and our superior access to collateral drove the strong equity demand, leading to an upsizing to $525 million. Additionally, the fund’s liabilities priced at market tight levels, making this fund well positioned to produce attractive returns for our investors."

Carlyle’s Leveraged Finance Group now manages $5.6 billion in assets. U.S. High Yield manages CLO’s and Carlyle Credit Partners, a credit opportunity fund; U.S. Mezzanine manages Carlyle Mezzanine Partners, a $436 million middle market direct lending fund; and, U.S. Distressed manages Carlyle Strategic Partners, a $211 million control oriented distressed investment fund. Carlyle Europe Leveraged Finance manages two CLO’s in Europe as well as a credit opportunity fund, Carlyle Europe Credit Partners.

With teams in the U.S. and Europe, Carlyle’s Leveraged Finance Group is well positioned to capitalize on opportunities in leveraged loans and high yield bonds, mezzanine securities, distressed assets and special situation investments. Michael Zupon, Managing Director and head of the Leveraged Finance Group, said, "We have built upon the success of our corporate credit business to establish a highly skilled, strategically focused leveraged finance platform. The Group has developed and maintained a strong credit culture over the past seven years to create unique investment opportunities. The leveraged finance platform utilizes this disciplined approach to invest in various levels of the corporate capital structure to maximize results for our investors."