OppenheimerFunds Inc. has teamed up with private equity firm Carlyle Group LP to launch a private debt interval fund, Reuters reported June 5.
The fund, called OFI Carlyle Private Credit Fund, invests in several private debt securities, including direct lending first- and second-lien loans, unitranche loans, mezzanine debt, distressed credit and collateralized loan obligation funds, according to the news report.
The offering operates as an unlisted interval fund and will make offers to repurchase between 5% and 25% of its outstanding shares quarterly.
