Twitter LinkedIn
    Thursday, March 23
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Private Equity»Carlyle Inks $4.1 Billion Credit Line Linked to Board Diversity
    Private Equity

    Carlyle Inks $4.1 Billion Credit Line Linked to Board Diversity

    February 18, 2021Updated:February 18, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Carlyle Group Inc. has established a $4.1 billion credit line that ties borrowing costs to how well its portfolio companies achieve board diversity goals. The buyout firm has structured the revolver for its Americas corporate private equity funds, with pricing of the debt depending on whether they meet a previously set target of 30% diverse directors on their boards within two years of ownership.

    The three-year facility will serve as a subscription line for the funds, providing Carlyle with cash that may be immediately used to fund acquisitions. The money would then be repaid once capital is called from the funds’ investors, a Carlyle representative said. It’s the largest environmental, social and governance-linked facility of its kind in the U.S. and the first to exclusively focus on board diversity, Carlyle said in a Wednesday statement.

    Carlyle previously spelled out measures meant to promote diversity and inclusion in its workplace. In July, it said it wanted 30% diversity on boards of companies controlled by its private equity group by 2023. The firm said Wednesday its research over the past three years indicates that its portfolio companies with two or more diverse board members have seen average earnings growth of 12% greater per year versus those lacking diversity.

     

    Read More

    Source: BNN Bloomberg

    By Lisa Lee

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Acquisitions diversity funds Investments
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    Carlyle targeting $1.6B for second renewables fund

    November 18, 2022

    Vista’s latest flagship fund halfway to $20B target

    November 18, 2022

    MVM closes oversubscribed Fund VI at $500m hard cap

    November 17, 2022

    Comments are closed.

    Other Articles

    REE Automotive in negotiations for a $3-4 billion Nasdaq SPAC merger

    December 29, 2020

    Blackstone in talks to buy Emerson Electric Assets

    October 5, 2022

    Business owners and private equity firms expect wave of deals in H2

    February 3, 2021

    Inter President Steven Zhang In Talks With Bain Capital Regarding €250M Bridge Loan

    February 21, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?