Buyout firm Carlyle Group Inc is in talks to acquire CBAM Partners in a bid to grow its credit investment platform and take on peers such as Apollo Global Management Inc and Blackstone Inc, according to people familiar with the matter.
Carlyle has prevailed in an auction to acquire New York-based CBAM, which manages $15 billion in credit assets, such as collateralized loan obligations and structured credit products, according to the sources, who requested anonymity because the matter is confidential.
The Washington, D.C.-based firm grew its credit assets to $73 billion as of the end of December, up from $34 billion when Jenkins joined, through a mixture of fundraising and acquisitions of other firms. It bought the aircraft financing firm Apollo Aviation Group in 2018 and announced a $3 billion deal to acquire the rental property leasing business of iStar Inc on Wednesday.
Read more: Reuters
