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 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.
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
$100 million Sponsor contribution1
1.5% management fee2 & 20% incentive fee3 (6% hurdle4)5
The investment adviser to the Fund is Carlyle Global Credit Investment Management L.L.C. (“CGCIM”)
Offers 5% minimum quarterly repurchases
1099-Div tax reporting
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.
Brian Marcus is a Principal of the Adviser. He is based in New York. Mr. Marcus is a Portfolio Manager for the Fund, a non-voting member of the PAAC, and also focuses on strategic growth opportunities for the Global Credit platform. He helped develop TCG Capital Markets, a SEC-registered broker/dealer affiliate of The Carlyle Group and has been involved in acquisitions of credit management platforms.
Prior to coming to Carlyle, Mr. Marcus was with Morgan Stanley in the Principal Investments area, which used the firm’s capital in a diverse array of investments including private equity, distressed debt, and mezzanine. In this role, Mr. Marcus served as a director on a number of Boards. Previously, Mr. Marcus worked at Lehman Brothers in the mergers and acquisitions group. He received a B.S. in economics from the Wharton School of the University of Pennsylvania and currently holds Series 7, 55, and 63 licenses.
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