Carlyle Closes $300 Million Loan Opportunity Fund.Business Editors WASHINGTON--(BUSINESS WIRE)--Oct. 6, 2003 Global private equity firm The Carlyle Group  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. The Carlyle Group is a Washington, D.C. today announced that it has closed its fifth high yield fund, Carlyle Loan Opportunity Fund (CLOF), at $300 million. The fund will invest a minimum of 95 percent of its assets in liquid, non-investment grade bank loans. The fund has an initial core portfolio of 75 percent senior secured par loans, which will be supplemented with opportunistic opportunistic /op·por·tu·nis·tic/ (op?er-tldbomacn-is´tik) 1. denoting a microorganism which does not ordinarily cause disease but becomes pathogenic under certain circumstances. 2. acquisitions of performing loans trading at a 10-25 percent discount to par. Mike Zupon, Managing Director and head of the high yield group, said, "A focus on bank loans enables us to take advantage of greater price stability, lower historical default rates, and higher recovery rates compared to other below investment grade asset classes. And discounted loans represent an opportunity to purchase loans at lower prices and realize attractive returns on investment through current income and higher ultimate recoveries." Carlyle's high yield team now manages $2.6 billion of leveraged loans, high yield bonds, and special situation investments in five CDOs: -- Carlyle High Yield Partners, L.P. - $900 million market value CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the (May 1999) -- Carlyle High Yield Partners II, Ltd. - $550 million cash-flow CDO (December December: see month. 1999) -- Carlyle High Yield Partners III, Ltd. - $450 million cash-flow CDO (December 2000) -- Carlyle High Yield Partners IV, Ltd. - $400 million cash-flow CDO (April 2002) -- Carlyle Loan Opportunity Fund - $300 million cash-flow CDO (September September: see month. 2003) The Carlyle Group is a global private equity firm with more than $16.2 billion under management. Carlyle generates extraordinary returns for its investors by employing a conservative, proven, and disciplined approach. Carlyle invests in buyouts, venture, real estate, high yield, and turnarounds in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, and Asia, focusing on aerospace & defense, automotive, consumer & industrial, energy & power, healthcare, technology & business services, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. & media, and transportation. Since 1987, the firm has invested $9.2 billion of equity in 295 transactions. The Carlyle Group employs more than 500 people in 12 countries. Visit www.carlyle.com for additional information. |
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