Global investment firm Carlyle and Australian credit investment firm amicaa have teamed up to manage a portfolio of opportunistic private debt investments in Australia and New Zealand.
The joint venture will manage two strategies - amicaa Core Plus strategy which will focus on stable, income-oriented returns from Australian and New Zealand corporate loan investments and is designed for local superannuation funds and private wealth investors.
The other strategy is the amicaa Credit Opportunities strategy, which will provide financing solutions to companies going through transition - acquisitions, growth or refinancing - that need a tailored capital package outside of the normal course of business.
"We are excited to be partnering with amicaa to form a joint venture that combines the deep local knowledge and extensive relationships of the amicaa team with the strong investment management expertise and investor relationships of Carlyle's global credit platform," Carlyle Global Credit managing director, Taj Sidhu, said.
"We see a multi-billion-dollar opportunity to deploy capital in Australia and New Zealand, a structurally growing market, and look forward to working with the amicaa team to build out the long-term growth of the business."
Carlyle will provide access to investment tools, processes and specialist resources of its US$143 billion global credit platform for the funds and will invest capital from its Credit Opportunities strategy.