The financing structure is expected to combine senior debt, preferred shares, and common equity. Investors in existing Carlyle funds would transfer stakes into a new investment vehicle that provides both cash and equity exposure. That vehicle would then invest in Carlyle Partners IX. The approach resembles a collateralised fund obligation, a structure that bundles stakes in multiple funds into a special-purpose vehicle. The combined assets can then be used as collateral to raise debt and equity financing. Pooling fund interests allows asset managers to borrow more efficiently than raising financing against a single portfolio company. It can also provide capital for new investments and help return money to limited partners. The Washington-based firm has also outlined ambitious growth plans. Carlyle aims to raise at least $200bn of capital by 2028, including $50bn for global private equity, $90bn for credit strategies, and at least $60bn for AlpInvest. Subscribe to our Newsletter to...
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