Carlyle Group Inc said on Wednesday it would acquire credit investment platform CBAM Partners for nearly $787m, in a deal that would make the buyout firm the biggest manager of collateralized loan obligations (CLOs).
With the latest deal, Carlyle is set to grow its CLO assets under management to $48 billion, it said. The company is already a big player in the market, having issued 14 broadly syndicated CLOs raising $7.4 billion in 2021, it said.
The cash-and-stock deal includes $615 million in cash and nearly 4.2 million newly issued shares, Carlyle said. Based on the last closing price of Carlyle’s stock, the stock component of the deal would be valued at nearly $172 million.
Read more: Reuters
