The Carlyle Group Raises $1.35 Billion for Second Distressed & Corporate Opportunities Fund; Team Poised to Capitalize on Forthcoming Market Opportunity

Los Angeles, CA; New York, NY and Washington, DC – Global private equity firm The Carlyle Group today announced it has raised $1.35 billion for its second distressed debt and corporate opportunities fund, Carlyle Strategic Partners II (CSPII). The CSP investment team invests in the debt and equity of operationally sound, financially distressed companies.

“We are grateful for the strong support of our investors who recognize that the turbulent economic and capital markets environment and excessive leverage on corporate balance sheets creates great opportunities for distressed investing around the globe,” said Brett Wyard, Managing Director and Co-head of CSP.

CSP seeks to obtain influence or control whenever possible and appropriate in its portfolio investments to drive returns and value through its involvement in restructuring processes and at the management and board levels.

“With the support of the Carlyle organization, CSP is now poised to source an increasing number of proprietary deals across virtually all industries as well as achieve unique industry insights on mainstream distressed situations,” said Ray Whiteman, Managing Director and Co-head of CSP.

CSP has the flexibility to invest throughout the capital structure in bank loans, public debt, public and private equity.

Following its sale of portfolio company, Stellex Aerostructures to GKN, CSP received the 2007 Turnaround of the Year Award by Buyouts Magazine and 2007 Midsize Company Turnaround Award by the Turnaround Management Association.

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