AEA Private Debt closes $550m credit continuation vehicle

Private credit platform AEA Private Debt has announced the close of a $550m (£410m) credit continuation vehicle, led by Carlyle AlpInvest.

The continuation vehicle was established to acquire a diversified, income-generating portfolio of first-lien senior secured loans from AEA Private Debt’s 2016 vintage direct lending fund, primarily consisting of loans to sponsor-backed US middle market companies.

“This transaction underscores our commitment to delivering strong outcomes and innovative liquidity solutions for our investors,” said Alexandra Jung, partner and head of AEA private debt.

“Our partnership with Carlyle AlpInvest is a testament to our cycle-tested approach and reflects the strategic growth of AEA’s private debt business.

“With this continuation fund, we are further bolstering our ability to support leading middle market companies and sponsors while expanding the reach of the AEA Private Debt platform for the long term.”