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Carlyle to Buy Todd Boehly’s CBAM for $787 Million

  • The deal makes Carlyle the largest global CLO manager
  • PE giant will pay $787 million in cash and stock for CBAM
Todd Boehly
Todd BoehlyPhotographer: Dania Maxwell/Bloomberg
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Carlyle Group Inc. agreed to buy Todd Boehly’s investment shop for $787.2 million, wagering that investor appetite for higher yields from credit will turbocharge growth.

The purchase of CBAM Partners will make Washington-based Carlyle the largest manager of collateralized loan obligations with some $48 billion of such assets. Carlyle shares rose as much as 5.7% in New York trading.