The Carlyle European Tactical Private Credit (ETAC) fund is a European credit strategy structured as an open-ended, semi-liquid fund offering monthly subscriptions and quarterly redemptions.
The strategy will invest directly in deals originated by the firm’s $188bn global credit platform, which offers borrowers bespoke solutions across the entire capital structure.
It is designed to generate income with a focus on downside protection by tactically allocating assets to a wide range of private credit strategies, such as direct lending, opportunistic credit, and real assets credit.
Under normal circumstances, the fund will target investing at least 70% of its assets in private fixed income securities and credit instruments, primarily in senior secured and floating rate debt.
“We believe private credit is a fundamental constituent within a well-diversified investment portfolio, and can provide investors enhanced yields through market cycles,” said Taj Sidhu, head of European and Asian private credit at Carlyle.
Shane Clifford, head of Carlyle wealth strategy, added: “The launch of ETAC represents a significant milestone in Carlyle’s drive to provide individuals access to private markets, particularly in Europe.
“Private credit has unique benefits and considerations in a portfolio, beyond traditional asset classes. ETAC offers flexibility and access to investment opportunities historically only available to large institutional investors, as Carlyle broadens its fund suite for the private wealth channel.”
The launch of the strategy is the latest addition to Carlyle’s fund suite for individual investors, which also includes the Carlyle Tactical Private Credit fund, focused on North America.