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.
About OppenheimerFunds
OppenheimerFunds, Inc., a leader in global asset management, is dedicated to providing solutions for its partners and end investors. OppenheimerFunds, including its subsidiaries, manages more than $250 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of May 31, 2018.
Founded in 1959, OppenheimerFunds is an asset manager with a history of providing innovative strategies to its investors. The firm's 16 investment management teams specialize in equity, fixed income, alternative, multi-asset, and factor and revenue-weighted-ETF strategies, including ESG as a signatory of the UN PRI. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from pensions and endowments to financial advisors and individual investors. OppenheimerFunds and certain of its subsidiaries provide advisory services to the Oppenheimer family of funds, and OFI Global Asset Management offers solutions to institutions. The firm is also active through its Philanthropy & Community initiative: 10,000 Kids by 2020, reaching children with introductions to math literacy programs.
Web: oppenheimerfunds.com
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.
