Private equity major The Carlyle Group has amassed $4.6bn of capital commitments for the final close of two specialist funds targeting infra and credit deals.
The firm is set to tap the $2.2bn Infrastructure Opportunities Fund to invest in infrastructure assets located in OECD countries, including projects in the transport and logistics, energy and power infrastructure and water and agriculture infrastructure sectors.
Separately, the $2.4bn Credit Opportunities Fund will target private capital solutions for upper middle market borrowers, including non-private equity sponsored, family or entrepreneur-owned companies seeking an alternative to traditional capital markets or private equity.
That fund has already committed about $850m to ten businesses in North America and Europe, including a founder-owned homebuilder, a publicly listed media company and a subsidiary of a large corporate focused on renewable energy.
The infra fund, meanwhile, has been used to back large US infra projects including the Terminal One at New York’s JFK Airport and the Lone Star Ports Harbor Island Crude Export Terminal.
Carlyle Infrastructure Opportunity Fund co-head and managing director Andrew Marino said, “We see tremendous opportunity to upgrade infrastructure, particularly in the United States.
“Our team’s leadership and deep domain expertise give us the edge needed to perform for our investors as we participate in meeting a great national need.”
Alexander Popov, managing director and head of the Carlyle Credit Opportunities team, added, “Carlyle’s Credit Opportunities Fund is meeting a growing need for bespoke capital solutions among borrowers seeking an alternative to traditional debt markets or private equity.
“Leveraging Carlyle’s global platform, we seek to source and drive value in complex or overlooked investment opportunities while structuring strong downside protection and current yield.”
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