Debevoise & Plimpton LLP has advised Carlyle (NASDAQ: CG) in the formation of its third Carlyle Credit Opportunities Fund (“CCOF III”), with $7.1 billion of investable capital, which provides borrowers highly structured and privately negotiated solutions across the capital structure to family, founder, and management-owned companies, sponsor-backed companies, and special situations. CCOF III is nearly 30% larger than its predecessor fund and brings total investable capital across the opportunistic credit strategy to approximately $17 billion. For more information, please see the company’s press release.

The Debevoise team was led by investment management partner Jonathan Adler, tax partner Erin Cleary and investment management counsel Cate Bae and included associates Yueting Chen, Danielle Eiger, Daniel Jaret, Brett Johnson, Ilana Madorsky, Stanley Seckler and Helen Wang and law clerk Soo Young Yoon, tax associates Olivia Daniels and Jay Evans, and finance partner Ramya Tiller, counsel Emilie Hsu and associate Benjamin Reich.