Carlyle, Oppenheimer Launch Private Credit Fund
OppenheimerFunds and The Carlyle Group announced the launch of OFI Carlyle Private Credit Fund, the first strategy made available through the firms' joint venture to provide global private credit opportunities for high net worth (HNW) investors and advisors.
Designed for long-term investors seeking current income, the strategy opportunistically allocates assets across a range of credit strategies including direct lending, opportunistic credit, structured credit and liquid credit to companies around the world.
"We are thrilled to deliver a diversified income solution for investors who want access to private markets for their portfolios," said Kamal Bhatia, Co-Head of the JV and Head of Investment Solutions for OppenheimerFunds. "By offering true institutional private credit capabilities through our HNW partner platform, we are able to actively allocate and manage client assets while providing a periodic income stream that would be difficult to get from traditional public market investing."
The firms' JV, announced in the fourth quarter of 2017, brought together Carlyle's core global credit expertise with OppenheimerFunds' extensive product structuring and distribution capabilities to build an alternative credit platform for HNW clients and advisors. The platform aims to deliver long-term income solutions generally available only to institutional and ultra high net worth investors.
"We are excited to partner with OppenheimerFunds to provide high net worth investors with access to the spectrum of credit investments that experienced institutional investors already have," said Mark Jenkins, Head of Global Credit for The Carlyle Group and Co-Head of the JV.