Carlyle Group Inc. arranged a first-of-its-kind financing on May 4 to commit more than $5 billion to seed its next flagship buyout fund, Bloomberg reported. The deal is also designed to repay investors in some of Carlyle's older vintages. [1]
The structured credit package totals $8.5 billion. Roughly half of the financing is bank debt, with the rest split between preferred equity and common equity. [1]
The arrangement gives Carlyle a large pool of capital for its next flagship buyout vehicle while also providing a way to return cash to backers in earlier funds. Bloomberg said the transaction was arranged on May 4. [1]
Carlyle has not been quoted in the facts provided, and no closing date was given for the financing. The most recent concrete development is the reported arrangement of the deal on May 4. [1]