Carlyle Group is establishing a collateralized bond obligation fund and has hired a former Merrill Lynch & Co. executive to run it.

The fund, which will have from $1 billion to $2 billion of seed capital, will be up and running next month, Carlyle executives said. It will make its first bond investments later this year, they said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.