CGBD · Carlyle Secured Lending, Inc.

Summary

Carlyle Secured Lending, Inc. (CGBD) has formed a joint venture, Structured Credit Partners JV, LLC (SCP), with Carlyle Credit Solutions, Inc., Sixth Street Specialty Lending, Inc., and Sixth Street Lending Partners. The joint venture will invest in broadly syndicated first lien senior secured loans and is initially capitalized with $600 million of equity capital commitments, aiming to provide BDC shareholders with diversified exposure to corporate credit and enhanced risk-adjusted returns.

Key takeaways

• A joint venture named Structured Credit Partners JV, LLC (SCP) has been formed.
• The joint venture partners are Carlyle Secured Lending, Inc. (CGBD), Carlyle Credit Solutions, Inc., Sixth Street Specialty Lending, Inc. (TSLX), and Sixth Street Lending Partners.
• SCP will focus on investing in broadly syndicated first lien senior secured loans.
• The joint venture is initially capitalized with $600 million of equity capital commitments.
• SCP will be financed with long-term, non-mark-to-market, and predominantly investment grade rated CLO debt.
• Governance of SCP is shared equally between Carlyle and Sixth Street, with material decisions requiring unanimous approval.