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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.
Involta has announced the promotion of Carl Gordulic to Chief Financial Officer, effective January 17, 2023. Gordulic, a seasoned finance professional with over 25 years of experience, played a vital role in facilitating Involta's acquisition by Carlyle (NASDAQ: CG) in 2022. This leadership change aims to enhance Involta's growth strategy and manage the funds resulting from the Carlyle investment. Gordulic, who has held various positions within Involta for the past 15 years, is expected to drive the company's expansion in 2023 and beyond.
Vertical Capital Income Fund (NYSE: VCIF) announced a transaction agreement with Carlyle (NASDAQ: CG) to appoint Carlyle Global Credit Investment Management as its new investment adviser, pending shareholder approval. This shift aims to enhance value by focusing on collateralized loan obligations (CLOs). Carlyle will make a one-time payment of $10 million to shareholders and commit $50 million in equity investments. The Board unanimously supports this move, believing it aligns with strategic goals for maximizing shareholder returns. The transaction is expected to close in H1 2023, subject to necessary approvals.
Jagex, the publisher of RuneScape, has acquired Gamepires, an independent game studio known for the survival game SCUM, which has sold over 3 million copies since its 2018 launch. This acquisition aims to leverage Jagex's expertise and community-driven approach to enhance SCUM's future multi-platform release. With the backing of Jagex, Gamepires seeks to elevate SCUM to a leading open world title. The financial terms of the acquisition remain undisclosed.
Veritas Capital has successfully acquired Sequa Corporation, the parent company of Chromalloy, from Carlyle, marking a strategic move in the aerospace sector. Chromalloy is renowned for its aftermarket services for aircraft engines and gas turbines, boasting over 70 years of expertise. This partnership aims to leverage Veritas's experience in both commercial and military aerospace markets to enhance Chromalloy's growth and expand its proprietary LifeX® solutions. The deal reflects a commitment to continued investment in critical engine technology globally.
NineDot Energy has secured an $85 million construction-to-term debt facility funded by CIT and SMBC to enhance eleven battery storage sites in the New York City metro area. This financing bolsters NineDot's position as a community energy developer, aiding the local grid and supporting New York's decarbonization efforts. The funding will accelerate the development of local battery storage solutions, improving energy reliability and transitioning away from outdated peaker plants. This milestone is noted as a significant achievement for the company.
CIT, a division of First Citizens Bank, has announced its role as co-coordinating lead arranger for an $85 million construction-to-term debt financing for NineDot Energy. The funds will support the development of 11 battery storage projects in the NYC metro area, aimed at enhancing grid resiliency and supporting renewable energy. NineDot Energy is backed by Carlyle Group (NASDAQ: CG) and will implement projects across the Bronx, Staten Island, Queens, and Long Island, totaling 43 MW in capacity.
Clayton, Dubilier & Rice (CD&R) and Greenbriar Equity Group announced agreements to combine Paradigm Precision, a provider of machining and fabrications for engine manufacturers, with Whitcraft Group, a manufacturer of aerospace components. This merger aims to create a diversified supplier in the aerospace industry. Both companies will enhance capabilities to better serve OEM customers globally. The transactions are expected to close in early 2023, pending customary conditions. Financial terms of the deal were not disclosed.
CNSI and Kepro have announced a merger to create a leading healthcare solutions company, aimed at enhancing health outcomes through technology and clinical expertise. The combined entity will focus on improving healthcare access, quality, and efficiency for government-sponsored healthcare agencies. Todd Stottlemyer of CNSI will lead the new organization, while Susan Weaver of Kepro will serve as President. The merger, expected to close in December 2022, is backed by Carlyle (NASDAQ: CG), with both companies maintaining their operational headquarters.
Aspen Power Partners has acquired Safari Energy from PPL Corporation for
Mensura Capital announced it advised Advanced Marine Preservation (AMP) in its sale to Armada Parent, a portfolio company of Carlyle (NASDAQ: CG). The transaction details remain undisclosed. AMP specializes in preservation services for the U.S. Navy, ensuring defense readiness amidst increasing global challenges. Armada operates various subsidiaries within maritime and industrial services. Mensura, founded in 2007, focuses on M&A services for middle-market companies in the maritime sector, emphasizing a 'measured risk' approach to optimize client transactions.
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