Carlyle’s €2.3 Billion ESG-linked Credit Facility

Latham & Watkins represented Carlyle, while Reed Smith represented NatWest Markets in the transaction.

Global investment firm Carlyle has secured a €2.3 billion ESG-linked credit facility for its European private equity and real estate platform, to support the firm’s 30% board diversity target, and to address climate change and achieve better ESG outcomes through training. The new facility represents the next step in Carlyle’s ongoing commitment in Europe to drive further positive ESG change.

NatWest Markets arranged the facility as Lead Arranger and Facility Agent and Crédit Agricole Corporate and Investment Bank acted as ESG Coordinator and Agent.

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $276 billion of assets under management as of June 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,800 people in 27 offices across five continents.

Latham & Watkins represented Carlyle in the transaction with a finance team led by Washington, D.C. partners Ben Berman (Picture) and Manu Gayatrinath with associates Donald Cooley, Dalton Downing, and Jake Goodman. Advice was also provided on UK law matters by London partner Charles Armstrong with associates Medha Vikram and Francesca Forzoni; and on German law matters by Frankfurt partner Ralph Dräger. 

The Reed Smith team that advised NatWest Markets was led in London by partner and co-head of the firm’s funds finance team, Leon Stephenson, supported by associates Chu Ting Ng, Natalie Sharkey, Sophie Devlin, Helen Penwill, and Kyrstin Streeter, trainees Celine Collis and Nadia Macci, and sigma law specialist Pavle Jovic. Counsel Jim Lawlor and partner Ilene Froom worked on the US specific aspects of the transaction.

Involved fees earner: Charles Armstrong – Latham & Watkins; Benjamin Berman – Latham & Watkins; Donald Cooley – Latham & Watkins; Dalton Downing – Latham & Watkins; Ralph Dräger – Latham & Watkins; Francesca Forzoni – Latham & Watkins; Manu Gayatrinath – Latham & Watkins; Jake Goodman – Latham & Watkins; Medha Vikram – Latham & Watkins; Sophie Devlin – Reed Smith; Ilene Froom – Reed Smith; James Lawlor – Reed Smith; Helen Penwill – Reed Smith; Natalie Sharkey – Reed Smith; Leon Stephenson – Reed Smith; Kyrstin Streeter – Reed Smith; Chu Ting Ng – Reed Smith;

Law Firms: Latham & Watkins; Reed Smith;

Clients: Carlyle Group; NatWest Markets;

Author: Martina Bellini