Carlyle Enters European CLO Market With $2.8B In Assets

Law360, New York (February 28, 2012, 3:27 PM EST) -- Private equity giant The Carlyle Group LP has entered Europe’s collateralized loan obligation market with the purchase of management contracts for €2.1 billion ($2.8 billion) in CLO assets from Dallas-based Highland Capital Management LP, Carlyle announced Tuesday.

The deal transferred assets from four CLOs that are invested primarily in noninvestment-grade bank loans issued by European companies, Carlyle said. Financial terms of the transaction were not disclosed.

“The purchase of these CLO contracts, our first such acquisition in Europe, demonstrates Carlyle’s commitment to the European leveraged loan...
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