Carlyle Private Credit
Does anyone have any insight into the current outlook for Carlyle Global Credit (private credit)? Know the firm is looking to expand its private credit arm but curious to see if anyone in the industry (or firm) has any insight into the group.
A$$
What makes you say that
They just don’t have a great credit business and never have. The problems are most acute in direct lending.
I don't work there, but cross paths with the Private Credit teams from time to tie and am friends with a couple of people who used to work there. My sense is that it's moderately dysfunctional/chaotic internally (frequent turnover at the MD level and multiple rebrandings and course corrections over the past 5 years ) . . . but because of the size of the platform and the Carlyle brand name, the business always chugs along.
I knew someone who worked there and have a current mutual who does now. Sounds like they sweat way too hard and don't get paid for it.
What are exit opps like?
Bump
Avoid direct lending. Other parts of the private credit business are fine (sort of) but not amazing. Lots of politics and little to no real senior leadership.
Excuse my ignorance but could you outline the difference?
I'm a few years into PE and quite honestly, we've always used private credit and direct lending synonymously but maybe I'm missing some nuance
He’s referring to Sponsor Backed lending as opposed to their Non-Sponsored lending
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