Reuters: Private Equity: Carlyle closes $510 mln collateralized loan obligation

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Carlyle closes $510 mln collateralized loan obligation Mar 28th 2012, 13:20 March 28 | Wed Mar 28, 2012 9:20am EDT March 28 (Reuters) - Private equity firm Carlyle Group said it closed a $510 million collateralized loan obligation, its second new-issue in less than a year. Collateralized loan obligations (CLOs) are structured investment products that are backed by risky, high-yield debt, and are sold to investors as bonds. The new CLO has a reinvestment period of four years, the firm said in a statement. Carlyle's last new-issue CLO fund closed in July 2011 at $507 million. Earlier the month, the firm, which has filed for an IPO, had reported a 152 percent year-on-year jump in distributable earnings in 2011.

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