The Carlyle Group has closed its latest European collateralised loan obligation (CLO) fund at €464m.

It is the second Carlyle has raised in Europe this year and the fifth globally. It has a four-year reinvestment period and two-year non-call period, with a final maturity in August 2030. The fund was arranged by Citigroup.

Carlyle now has around $20bn of assets under management in its structured credit and CLO business.