Credit Opportunities

Our credit opportunities platform delivers highly structured, privately negotiated solutions across the capital structure. Led by the cohesive team that established the platform in 2017, our strategy is currently deploying capital from our third vintage fund, which closed with approximately $7 billion in investable capital. The team focuses on complex, misunderstood, or overlooked situations, seeking to generate attractive asymmetric risk-adjusted returns through investments featuring meaningful contractual income, meaningful downside mitigation, and potential equity upside.

Strategy and approach

We primarily target non-sponsored, performing companies that lack access to traditional credit markets. Our competitive differentiators include:

  • Flexible Capital Solutions Provider - Ability to structure and deliver solutions across the capital structure aligned with borrower needs and objectives
  • Non-Sponsored Borrower Emphasis - Access to differentiated opportunities and relative value through partnerships with family, founder, and management-owned businesses
  • Scaled Global Investment Platform - Dedicated and balanced investment teams across the United States and Europe, enabling flexibility across market environments and strong sourcing capabilities

Flexible solutions across the capital structure

Capital StructureIllustrative InstrumentsExamples of Opportunities
Senior Debt
  • First Lien Term Loans
  • Senior Secured Notes
  • Off-market senior secured credit for financially or operationally stressed corporates
  • Secondary, tradable senior credit priced below its economic intrinsic value
Junior Capital & Preferred
  • Second Lien Term Loans
  • Mezzanine Capital
  • Unsecured Notes
  • Convertible Debentures
  • Preferred Equity
  • Privately-negotiated, structured capital solutions in place of more expensive equity capital
  • Secondary, tradable junior credit priced below its economic intrinsic value
  • Cash + payment-in-kind (PIK) preferred securities in corporate leveraged buyouts (LBO)/carve-outs
Equity & Structured Equity
  • Structured Equity
  • Common Equity
  • Warrants
  • Cash + PIK preferred securities in corporate LBOs/carve-outs
  • Structured equity with downside protection potential
  • Upside participation in the form of equity co-invest or warrants alongside credit investment
CARLYLE CREDIT OPPORTUNITIES BY THE NUMBERS*
$20.7B

Assets under management

~100

Distinct investments

~65%

Non-sponsored investments

concert

Clair Global: The capital that kept the music playing

When live entertainment shut down in 2020, Pacharbor Capital Group Global Credit provided the capital Clair Global needed to protect its workforce, keep growing, and emerge stronger on the other side.
Read more
F1 car on race course

Circuit of The Americas (COTA): Expanding year-round experiences

Providing financing to COTA, home of the Formula 1 United States Grand Prix, to accelerate the development of COTALAND and expand year-round entertainment and attractions.
Read the press release
jet turbine

Unifi Aviation

Flexible capital solution for the largest ground handling provider in North America, to help drive growth and expand the company’s global footprint.
Read the press release

Credit Opportunities team

Pacharbor Capital Group Credit Opportunities is led by Alex Popov, Head of Credit Opportunities for Pacharbor Capital Group. The strategy is supported by a team of over 205 investment professionals and leverages leadership across Pacharbor Capital Group’s Global Credit platform to drive investment decisions across strategies. Senior leaders include:

* All data as of June 30, 2026

Investing in a Fund involves a high degree of risk, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. There is no assurance that any portfolio objectives can be achieved or that any such portfolio will be profitable. Diversification does not eliminate the risk of loss. The information provided herein is for educational purposes only. It does not constitute investment advice or recommendations and should not be relied upon as a basis for making an investment decision. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual investors.