Carlyle Raises $2.3B for Second Infrastructure Credit Fund

Carlyle has closed its second infrastructure credit fund with approximately $2.3 billion in commitments, exceeding its $2 billion target. Carlyle Infrastructure Credit Fund II is more than three times larger than its $643 million predecessor. The fund attracted institutional investors from North America, Europe and Asia.

CICF II provides directly originated, privately negotiated financing to infrastructure businesses and projects. Its relative-value strategy focuses on below-investment-grade opportunities across energy transition, digital infrastructure, transportation and logistics, low-carbon power, water and waste treatment and other essential-service sectors.

The fund has assembled six investments in North America and Europe, representing approximately $500 million of committed capital, or roughly 22% of total commitments.

“Essential infrastructure sectors have significant and growing investment needs, and we believe Carlyle is uniquely suited to capitalize on this opportunity set on behalf of our investors,” said Erik Savi, global head of Carlyle Infrastructure Credit.

Carlyle’s infrastructure credit business manages approximately $8.7 billion across its platform. The strategy sits within the firm’s broader global credit operation, which reported $211 billion in assets under management as of June 30.