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The Carlyle Group Inc. (NASDAQ: CG) is a prominent global investment firm with deep industry expertise. Founded in 1987 in Washington, DC, the company has evolved into one of the world's largest investment firms, managing $426.0 billion in total assets, including $307.4 billion in fee-earning assets as of December 2023. Carlyle operates through 29 offices across five continents, employing nearly 1,850 professionals.
Carlyle's business is divided into three core segments: Global Private Equity, Global Credit, and Global Investment Solutions. The private equity segment includes funds focused on private equity, real estate, infrastructure, and natural resources, contributing 35% of fee-earning AUM and 63% of base management fees in 2023. The global credit segment accounts for 50% of fee-earning AUM and 25% of management fees, while investment solutions make up the remaining 15% of AUM and 12% of management fees.
The firm's client base primarily consists of institutional investors and high-net-worth individuals. Carlyle's investment strategy emphasizes creating value for its investors, portfolio companies, and the communities in which it operates.
In recent news, Carlyle has made significant strides in various sectors. The firm recently announced the acquisition of a $415 million private student loan portfolio and a strategic investment into Monogram LLC, a leader in finance solutions for students and their families. This partnership aims to enhance private student loan offerings, leveraging Monogram's extensive experience and Carlyle's financial backing.
Additionally, Carlyle's subsidiary, Carlyle Credit Income Fund (NYSE: CCIF), focuses on investing in equity and junior debt tranches of collateralized loan obligations (CLOs). The fund will release its financial results for the first and second quarters of 2024 after market close on February 29 and May 29, respectively.
Carlyle continues to demonstrate its commitment to strategic growth through its latest investment of $180 million in Zippy Shell Incorporated, a leading containerized moving and storage company. This investment is aimed at refinancing existing debt and supporting strategic growth initiatives, further solidifying Carlyle's role as a key player in the alternative-asset management industry.
In summary, Carlyle Group Inc. stands out as a global leader in investment management, continuously driving value creation through strategic partnerships, innovative financial solutions, and a diverse portfolio.
CIBC Innovation Banking has led a senior syndicated debt commitment for Yipit, a New York-based alternative data insights provider. The debt facility aims to support YipitData's growth and leadership in the alternative data sector. YipitData analyzes billions of data points daily, offering insights on over 2,000 companies to investment funds and large corporations. This new facility replaces an existing credit arrangement, reducing borrowing costs and providing greater financial flexibility. YipitData's existing investors include Carlyle and Norwest Venture Partners.
Zippy Shell completed a $525 million refinancing, supported by a $180 million investment from Carlyle and a $345 million first lien debt facility led by JPMorgan Chase. This capital will refinance existing debt and fund strategic growth, including network and fleet expansion, and real estate acquisitions. Zippy Shell, a major player in containerized moving and storage, has seen increased demand since merging with 1-800-PACK-RAT in 2018. CEO Mark Kuhns credited Carlyle and JPMorgan Chase for their roles in this financial milestone. Virgo Investment Group founder, Jesse Watson, praised Carlyle's continued support, emphasizing Zippy Shell's growth trajectory.
Carlyle Credit Income Fund (CCIF) will release its second quarter 2024 financial results on May 29, 2024, followed by an investor conference call on May 30, 2024, at 10:00 a.m. EDT. The call will be accessible via webcast on CCIF's website.
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