The Carlyle Group Raises $1.38 Billion for Energy Credit Investments
Fund Fills Gap for Energy Businesses Unable to Tap Traditional Sources of
Capital; Continues Expansion of Global Market Strategies Platform
NEW YORK & HOUSTON -- November 27, 2012
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today
announced that it has raised $1.38 billion for energy credit investments.
Carlyle Energy Mezzanine Opportunities Fund (“CEMOF”) primarily targets
investments in projects and companies in the power generation and energy
sectors requiring capital of $20 million to $150 million per transaction. The
fundraising effort exceeded Carlyle’s initial goal of $750 million.
David Albert, Managing Director and Co-head of the energy credit investment
team, said, “We are delighted with the faith investors have shown in us and in
our strategy. CEMOF provides growth capital which is less dilutive and more
flexible than that of traditional private equity. We enable owners to maintain
control of their companies’ governance and to retain the bulk of the equity
“We see strong opportunities in the market and have a great team based in New
York and Houston to pursue them, as well as the Carlyle global network to
assist in sourcing and supporting transactions,” said Rahul Culas, Managing
Director and Co-head of the energy credit investment team. “The fund is off to
a strong start having already made six investments in a mix of power
generation projects and upstream and downstream energy companies.”
CEMOF reflects Carlyle’s ongoing strategy of expanding its asset management
business beyond the firm’s historical focus on control-oriented private
equity. The fund resides within Carlyle’s Global Market Strategies segment,
which comprises an array of structured credit, middle-market credit and
distressed credit products, as well as hedge fund strategies (long/short
credit; emerging markets equities; macroeconomic strategy; and commodities) –
55 funds with $30 billion in assets managed by 117 investment professionals in
New York, Washington, DC, Los Angeles, Houston, Hong Kong and London as of
September 30, 2012.
CEMOF was advised by Simpson Thacher & Bartlett LLP.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $157
billion of assets under management across 101 funds and 64 fund of fund
vehicles as of September 30, 2012. Carlyle's purpose is to invest wisely and
create value on behalf of our investors, many of whom are public pensions.
Carlyle invests across four segments – Corporate Private Equity, Real Assets,
Global Market Strategies and Fund of Funds Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South America. Carlyle
has expertise in various industries, including: aerospace, defense &
government services, consumer & retail, energy, financial services,
healthcare, industrial, technology & business services, telecommunications &
media and transportation. The Carlyle Group employs 1,300 people in 32 offices
across six continents. www.carlyle.com www.youtube.com/onecarlyle
The Carlyle Group
Liz Gill, +1-202-729-5385
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