|Share Class||Ticker||2019 MTD
|A Shares Without Sales Load||OCPAX||0.12%||1.68%||4.29%||2.53%|
|A Shares With 3.5% Sales Load||OCPAX||-3.42%||-1.88%||0.62%||-1.03%|
Bringing Carlyle’s leading institutional credit platform to individual investors.
Co-investment exemptive relief1 allows you to invest alongside private investments with other institutions (Sovereigns, Pensions, Endowments).
Carlyle opportunistically allocates assets across a range of credit strategies including direct lending, opportunistic credit, structured credit and liquid credit to companies around the world.
Capture the significant and growing income premium opportunities in private markets.
Closed-end interval fund, evergreen term, non-accredited, quarterly repurchases, 1099 tax reporting, and lower minimums.
1. On January 17, 2018, the SEC granted an Exemptive Order permitting the Fund to co-invest alongside Carlyle’s business development companies, Carlyle-advised private funds and Carlyle’s broker-dealer subsidiaries and/or proprietary accounts, in investments originated or negotiated by Carlyle Global Credit Investment Management, LLC, the Fund’s sub-adviser, or its affiliated advisers, subject to the conditions set forth in the Exemptive Order.
The Fund’s investment objective is to produce current income. The Fund seeks to achieve this goal by allocating capital across several credit strategies including Structured Credit, Direct Lending, Opportunistic Credit, Distressed Credit, and others as opportunities arise.
The Fund will take a prudent approach to portfolio construction by capitalizing on Carlyle’s differentiated origination and underwriting platform to source opportunities across its investment strategies. Both Invesco and Carlyle are bringing dedicated resources, well-honed risk management skills, and an absolute commitment to governance, oversight and investor advocacy.
The allocation percentages set forth above are targets only, are current as of 12/31/2018 and remain subject to change.
Opportunities that arise due to market dislocation or special situations
Debt and equity of operationally sound, financially distressed companies
Loans and subordinated debt to sponsor backed middle market companies
Debt and equity tranches of Collateralized Loan Obligations (CLOs) and structured financings
Debt, such as corporate or sovereign, with robust, liquid markets, including broadly syndicated loans, high yield, convertible securities and Treasury securities
1. Performance calculated using monthly data as of 06/30/2019.
2. Performance calculated using monthly data as of 06/30/2019.
Annual Expense Ratio: Gross: Class A shares 5.46% / Class I shares 4.61% / Class Y shares 4.86% / Class L shares 5.11%.
Net: Class A shares 4.71% / Class I shares 3.86% / Class Y shares 4.11% / Class L shares 4.36%.
This is a new Fund with a limited operating history as A shares commenced operations on June 4, 2018 and the I, L, and Y shares on September 4, 2018.
Returns for periods less than one year are cumulative and not annualized.
The performance data quoted represents past performance, which does not guarantee future results. Current performance and expense ratios may be lower or higher than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month-end, visit www.ofiglobalcarlyle.com or call 833.677.3646. Class A and Class L shares include the 3.50% maximum sales charge except where indicated. Class Y and Class I shares are not subject to a sales charge. The net expense ratio takes into account contractual fee waivers and/or reimbursements, without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board. Generally, Class A Shares and Class L Shares are offered through Financial Intermediaries on brokerage or transactional platforms. Class Y Shares and Class I Shares are generally available through fee-based programs, registered investment advisers and other institutional accounts. Generally, Class I shares can only be purchased with a $1 million initial investment. See prospectus for details.
$100 million Sponsor contribution1
1.5% management fee2 & 20% incentive fee3 (6% hurdle4)5
The investment sub-adviser to the Fund is Carlyle Global Credit Investment Management L.L.C. (“CGCIM”)
Offers 5% minimum quarterly repurchases
1099-Div tax reporting
The investment adviser to the Fund is OC Private Capital, LLC
1. Targeted contributions.
2. Charged on net assets.
3. Charged only on income net of fees.
4. Incentive fee will be charged once the hurdle rate is achieved with 100% catch up. Distributions are not guaranteed.
5. The Incentive Fee is calculated and payable quarterly in arrears based upon the Fund’s “pre-incentive fee net investment income” for the immediately preceding quarter, and is subject to a hurdle rate, expressed as a rate of return on the Fund’s Net Assets equal to 1.50% per quarter (or an annualized hurdle rate of 6.00%), subject to a “catch-up” feature. The “catch-up” provision is intended to provide the Adviser with an incentive fee of 20% on all of the Fund’s pre-incentive fee net investment income when the Fund’s pre-incentive fee net investment income reaches 1.875% of Net Assets in any calendar quarter. Thus, each calendar quarter the Fund will compare its pre-incentive fee net investment income, expressed as a percentage of the Fund’s Net Assets in respect of the relevant calendar quarter, to a hurdle rate of 1.50%. If the Fund’s pre-incentive fee net investment income is less than the hurdle rate, then the Adviser will not be paid the Incentive Fee in respect of that quarter.
Linda Pace is a Managing Director of Carlyle and the Global Head of Loans & Structured Credit. She is a voting member of the PAAC. Previously, she was responsible for portfolio management for Carlyle High Yield Partners, deploying capital into the U.S. market in cash and synthetic form. Prior to joining Carlyle, Ms. Pace spent 10 years with BHF-Bank AG, where she was Co-Head of the bank's Syndicated Loan group in New York. She invested in leveraged loans on behalf of the bank's $2 billion on-balance sheet portfolio, as well as their $400 million Collateralized Loan Obligation funds. Prior to that, Ms. Pace worked at Société Générale as a Corporate Credit Analyst. Ms. Pace received her undergraduate degree in French from Douglass College and her M.B.A in Finance from New York University.
Justin Plouffe is a Managing Director and the Deputy Chief Investment Officer of Carlyle Global Credit. He is a Director of the Adviser and a voting member of the PAAC. Mr. Plouffe focuses on investing in Carlyle’s structured credit and opportunistic credit strategies, as well as capital formation and management of the overall credit platform. Since joining Carlyle in 2007, he has overseen CLO new issuance, led acquisitions of corporate credit management platforms, served as a portfolio manager for structured credit investments, developed proprietary portfolio management analytics, and negotiated a wide variety of financing facilities. Prior to joining Carlyle, Mr. Plouffe was an attorney at Ropes & Gray LLP. He has also served as a clerk at the U.S. Court of Appeals for the First Circuit and as a legislative assistant to a U.S. Congressman. Mr. Plouffe received his undergraduate degree from Princeton University and his J.D. from Columbia Law School, where he was an editor of The Columbia Law Review. He is a CFA charterholder, holds Series 7, 24, 57, 63, 79 and 99 licenses, and is associated with TCG Securities, L.L.C., the SEC-registered broker/dealer affiliate of The Carlyle Group.
1. Trades are processed using subscription documents rather than the ticker symbols listed here.
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For account information and questions contact 1-833-677-3646