PE Today: Carlyle Lands $4.6 Billion for Latest Fund

Read the top headlines from Wednesday, April 6, 2022 below:

Carlyle Announces $4.6 Billion Raise for Credit Opportunities Fund II

Carlyle has announced a $4.6 billion fundraise for its second Credit Opportunities Fund, which aims to provide capital solutions to middle-market borrowers as an alternative to private equity or traditional capital markets. The fund has committed about $3.8 billion to 22 businesses across North America and Europe, Carlyle said in its announcement. Investments will target media and entertainment, real estate, software, technology, financial and business services, and aerospace, the firm said.

York Acquires Hospital Laundry Service Provider

York Private Equity has announced the acquisition of Healthcare Linen Services Group (HLGS), which provides laundry services to the healthcare industry across the Midwest and central U.S. A press release did not disclose financial terms of the transaction. In a statement, HLGS CEO Joe LaPorta said, “Today’s healthcare customers demand sustainability and scale to support their mission of quality care and geographical expansion.” He added that the partnership with York will help the company grow into new geographies through acquisitions.

Reverence Capital Partners Places $100 Million in Investment Platform CAIS

Reverence Capital Partners, a private investment firm targeting the middle market, has announced a $100 million investment in alternative investment platform CAIS. According to a press release, the investment follows CAIS’s $225 million funding round announced in January, which was led by Apollo, Motive Partners and Franklin Templeton. CAIS offers financial advisors access to alternative investment funds, including private equity, real estate, private credit and more. Reverence managing partner Milton Berlinski said in a statement, “Through our experience working with asset management, wealth management and FinTech businesses, we have seen firsthand the challenges associated with independent investing in alternative asset classes.” He added that CAIS helps address those challenges through infrastructure, education and other resources.

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