Sam Sutton

Reports indicate the firm, which has $74bn of assets under management, is on the verge of filing for an IPO that would see it join the likes of The Blackstone Group and Kohlberg Kravis Roberts as a public entity.

The firm may pursue a follow-up vehicle later this year. 

The $7.4bn retirement system has made two commitments to private debt funds since April. 

Last year, Carlyle’s GMS platform closed six CLOs with a combined $3.1bn in assets. With its two latest vehicles, it's already raised almost half that amount before the end of the first quarter. 

The commitments to debt/special situations will come from the retirement association’s private equity and alternatives allocation. 

The final close includes a 5%-plus commitment from the GP. 

With investor appreciation for cov-lite on the rise, more than three quarters of European sponsor-backed M&A activity this year has been financed with term loans.

William Douglass was previously an underwriting manager for CIT’s healthcare unit.

Shares of the business development company began trading on the New York Stock Exchange Friday morning. 

PA Public Schools also named James Grossman as the new CIO of the $50.4bn retirement system.