The Carlyle Group Closes $400 Million Loan Fund, CHYP X; Leveraged Finance Group Now Manages $9.5 Billion in Assets

Washington, DC - Global private equity firm The Carlyle Group today announced the close of its tenth U.S. loan fund, Carlyle High Yield Partners X, Ltd. (CHYP X), at $400 million. Over the last year, Carlyle’s U.S. Leveraged Finance Group closed three CLOs with a total of $1.2 billion of assets. CHYP X utilizes a traditional CLO structure including AAA through BB rated liabilities that were priced at near historic low spreads to Libor.

Linda Pace, Carlyle Managing Director and Leveraged Loan Portfolio Manager, said, "J.P. Morgan Securities did an outstanding job structuring the fund. We were pleased to take advantage of the opportunity to lock in attractive liability spreads on this transaction. The market recognized and rewarded our experience and expertise in managing leveraged loans and high yield bonds through a full credit cycle for attractive returns and low defaults."

Globally, Carlyle now manages $9.5 billion in leverage finance assets. Carlyle U.S. Leveraged Finance manages seven CLOs and a credit opportunity fund. Carlyle Mezzanine manages a middle market direct lending fund. Carlyle Global Distressed and Corporate Opportunities manages a control oriented distressed investment fund. Carlyle Europe Leveraged Finance manages four CLOs in Europe as well as a credit opportunity fund.

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 with teams in the U.S. and Europe. Michael Zupon, Managing Director and head of the U.S. Leveraged Finance Group, said, "The Leveraged Finance Group has developed and maintained a fundamental value oriented investment culture over the past eight years and produced outstanding returns for our investors. The team’s top track record enabled us to lock in attractive liability spreads and positions CHYP X to maximize returns to our investors. We continue to build upon the success of our corporate credit business to establish a highly skilled, strategically focused leveraged finance platform."