The Credit Edge by Bloomberg Intelligence
Carlyle Flags ‘High Teens’ Middle-Market CLO Gains
Feb 27, 2025
Lauren Basmadjian is the Global Head of Liquid Credit at Carlyle, overseeing a vast $192 billion credit platform. In this conversation, she reveals that middle-market CLOs are offering impressive mid-to-high teens IRRs, overshadowing traditional syndicated loans. Basmadjian discusses the risks from liability management exercises, the convergence of private and public debt, and opportunities in the European leveraged loan market. She also emphasizes the rising demand for quality loans and the impact of interest rates on borrower behavior, shedding light on evolving market dynamics.
46:07
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Quick takeaways
- Carlyle identifies middle-market CLO equity as a prime investment opportunity, reporting mid-to-high teens internal rates of return compared to traditional CLOs.
- The podcast emphasizes the growing risks in the credit market due to factors like inflation and geopolitical uncertainties, necessitating vigilance among investors.
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