Carlyle Group is looking to raise at least $8.5 billion for a new fund, the Carlyle Credit Fund III, as part of its illiquid credit platform headed up by Alexander Popov, according to a report by Bloomberg.
Carlyle Group is looking to raise at least $8.5 billion for a new fund, the Carlyle Credit Fund III, as part of its illiquid credit platform headed up by Alexander Popov, according to a report by Bloomberg.
The report cites an unnamed source as saying that the firm has already held preliminary discussions with investors ahead of the fund’s formal fundraising launch in 2023.
The new fund will have a broad mandate and will look to make investments in both distressed and performing private debt, as well as special situations.
In April, Carlyle said it had raised $4.6 billion for its second credit opportunities fund, which is focused on making loans to private equity-backed companies, family-owned businesses and asset-based borrowers. At the time, of the announcement, around two-thirds of the fund’s investable capital had been committed.
