{"id":92582,"date":"2025-02-03T07:58:58","date_gmt":"2025-02-03T07:58:58","guid":{"rendered":"https:\/\/adamfayed.com\/?p=92582"},"modified":"2025-02-03T07:58:58","modified_gmt":"2025-02-03T07:58:58","slug":"carlyle-tactical-private-credit-fund-review","status":"publish","type":"post","link":"https:\/\/adamfayed.com\/it\/review-articles\/carlyle-tactical-private-credit-fund-review\/","title":{"rendered":"Recensione del fondo Carlyle Tactical Private Credit"},"content":{"rendered":"<p>Carlyle Tactical Private Credit Fund\u00a0is an interval fund that targets consistent profit, so it invests in private loans and other <a href=\"https:\/\/adamfayed.com\/it\/investment-options\/fixed-income\/\">reddito fisso<\/a> assets.<\/p>\n\n\n\n<p>The Global Credit platform of the&nbsp;Carlyle Group&nbsp;is in charge of managing the closed-end investment business.<\/p>\n\n\n\n<p>The Carlyle CTAC fund highlights the value of private credit as a mainstay in diverse investment baskets.<\/p>\n\n\n\n<p>Se state cercando di investire come espatriati o individui con un alto patrimonio netto, che \u00e8 ci\u00f2 in cui sono specializzato, potete inviarmi un'e-mail (advice@adamfayed.com) o un messaggio WhatsApp (+44-7393-450-837).<\/p>\n\n\n\n<p>Questo vale anche per chi \u00e8 alla ricerca di alternative o di un secondo parere.<\/p>\n\n\n\n<p>Alcuni fatti potrebbero cambiare rispetto al momento della stesura del presente documento e nulla di quanto scritto in questa sede costituisce una consulenza formale. Pertanto, i potenziali investitori non dovrebbero investire o decidere di non investire sulla base di questo documento. <a class=\"wpil_keyword_link\" href=\"https:\/\/adamfayed.com\/it\/category\/review-articles\/\" title=\"recensione\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"1418\">recensione<\/a> da solo.<\/p>\n\n\n\n<p>Per una guida aggiornata, contattatemi.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"512\" height=\"341\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Group-512x341.jpg\" alt=\"What is Carlyle Group\" class=\"wp-image-92922\" style=\"width:473px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Group-512x341.jpg 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Group-300x200.jpg 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Group-768x512.jpg 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Group-scaled.jpg 825w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\"><sub><sup>image by Burst<\/sup><\/sub><\/figcaption><\/figure>\n\n\n\n<p>This post will discuss an overview of the Carlyle Group, the firm behind the investment opportunity, CTAC Private Credit\u2019s features, performance, and other significant information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is Carlyle Group?<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.carlyle.com\/\" target=\"_blank\" rel=\"noopener\">Carlyle<\/a> is a global investment company founded in Washington, D.C. in 1987.<\/p>\n\n\n\n<p>Currently, Carlyle oversees 612 financial vehicles&nbsp;and three business units&nbsp;with roughly&nbsp;$447 billion worth of&nbsp;assets.<\/p>\n\n\n\n<p>The business has 29 offices spread over four continents.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" width=\"440\" height=\"95\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/The-Carlyle-Group.svg_.png\" alt=\"The Carlyle Group logo\" class=\"wp-image-92928\" style=\"width:412px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/The-Carlyle-Group.svg_.png 440w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/The-Carlyle-Group.svg_-300x65.png 300w\" sizes=\"(max-width: 440px) 100vw, 440px\" \/><figcaption class=\"wp-element-caption\">     <\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Carlyle Tactical Private Credit Fund Overview<\/h2>\n\n\n\n<p>The Carlyle Tactical Private Credit Fund (CTAC) was kicked off in June 2018.<\/p>\n\n\n\n<p>As of end-November 2024, the fund managed roughly $5.22 billion worth of assets.<\/p>\n\n\n\n<p>A $10,000 minimum commitment is required for CTAC subscriptions, which are accessible on a daily basis. At least 5% of the Fund&#8217;s net assets will be repurchased every quarter.<\/p>\n\n\n\n<p>The asset allocation by strategy includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>35% in direct lending,<\/li>\n\n\n\n<li>29% in opportunistic credit,<\/li>\n\n\n\n<li>17% in structured credit,<\/li>\n\n\n\n<li>15% in liquid credit,<\/li>\n\n\n\n<li>4% in real assets credit.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>Geographically, 80% of assets are allocated to North America, while 19.2% is spread across South America, Europe, and Australia.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"512\" height=\"341\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-geographic-allocation-512x341.jpg\" alt=\"Carlyle Tactical Private Credit Fund north america allocation\" class=\"wp-image-92931\" style=\"width:467px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-geographic-allocation-512x341.jpg 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-geographic-allocation-300x200.jpg 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-geographic-allocation-768x512.jpg 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-geographic-allocation-scaled.jpg 825w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\"><sup><sub>image by RDNE Stock project<\/sub><\/sup><\/figcaption><\/figure>\n\n\n\n<p>Among the top 10 holdings by industry:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>12.3% in software<\/li>\n\n\n\n<li>6.8% in diversified investment vehicles<\/li>\n\n\n\n<li>6.7% in <a href=\"https:\/\/adamfayed.com\/it\/offshore-investment\/offshore-banking\/\">bancario<\/a>, <a href=\"https:\/\/adamfayed.com\/it\/finance\/\">finanza<\/a>, <a href=\"https:\/\/adamfayed.com\/it\/insurance\/\">assicurazione<\/a>, e <a href=\"https:\/\/adamfayed.com\/it\/investment-options\/real-estate\/\">immobiliare<\/a><\/li>\n<\/ul>\n\n\n\n<p>88% of the assets\u2019 interest rates are floating; 12% are fixed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Carlyle Tactical Private Credit Fund Performance<\/h2>\n\n\n\n<figure class=\"wp-block-image alignright size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/01\/Carlyle-Tactical-Private-Credit-Fund-Performance-300x300.webp\" alt=\"Carlyle Tactical Private Credit Fund Performance\" class=\"wp-image-92584\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/01\/Carlyle-Tactical-Private-Credit-Fund-Performance-300x300.webp 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/01\/Carlyle-Tactical-Private-Credit-Fund-Performance-512x512.webp 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/01\/Carlyle-Tactical-Private-Credit-Fund-Performance-150x150.webp 150w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/01\/Carlyle-Tactical-Private-Credit-Fund-Performance-768x768.webp 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/01\/Carlyle-Tactical-Private-Credit-Fund-Performance-scaled.webp 825w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption class=\"wp-element-caption\">    <\/figcaption><\/figure>\n\n\n\n<p>The CTAC private credit offering logged the following outcomes as per available data as of Jan. 21, 2025:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Carlyle CTAC Fund Class A Shares<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Without sales load<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The fund&#8217;s monthly, quarterly, and year-to-date returns are 0.61%, and its net asset value is $8.52.<\/p>\n\n\n\n<p>The cumulative gain for the fund&#8217;s inception-to-date period is 43.31%; the yearly ITD yield is 5.57%.<\/p>\n\n\n\n<p>The return for the last year is 10.23%, while the annualized return over the last three years is 7.43%.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>With sales load (3%)<\/strong><\/li>\n<\/ul>\n\n\n\n<p>In this case, the initial investment in the fund is trimmed&nbsp;by a 3% sales load that is taken out at the outset.<\/p>\n\n\n\n<p>The NAV stays at $8.52 as a result of this deduction, but the impact of the load causes the monthly, quarterly, and year-to-date returns to fall to -2.41%.<\/p>\n\n\n\n<p>The annualized ITD profit is 5.01%, while the cumulative ITD earning is 38.30%.<\/p>\n\n\n\n<p>The three-year annualized return is 6.34%, and the one-year return is 6.92%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Class I Shares<\/h3>\n\n\n\n<p>The NAV is $8.56, slightly higher than the A shares.<\/p>\n\n\n\n<p>The gains from month-, quarter-, and year-to-date all hit 0.64%, indicating steady short-term performance.<\/p>\n\n\n\n<p>Inception-to-date cumulative profit is an impressive 49.06%.&nbsp;This translates into a 6.44% annualized ITD return.<\/p>\n\n\n\n<p>Annualized yield is 7.90% over three years, while one-year profit is 10.69%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Class L Shares<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Without Sales Load<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The fund&#8217;s NAV is $8.52, with consistent MTD, QTD, and YTD gains of 0.73%.<\/p>\n\n\n\n<p>With an annualized ITD return of 5.84%, the fund&#8217;s cumulative return during the ITD&nbsp;term is 43.78%.<\/p>\n\n\n\n<p>Short-term performance remains strong with an annualized yield&nbsp;of 7.32% over three years and a one-year return of 10.07%.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>With Sales Load (3.5%)<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The NAV is also $8.52, but the MTD, QTD, and YTD returns drop to -2.80%.<\/p>\n\n\n\n<p>An annualized ITD payout of 5.25% and a cumulative ITD earning&nbsp;of 38.75% are lower than those of the no-load option.<\/p>\n\n\n\n<p>The annualized return for three years and the return for one year slide to 6.06% and 6.22%, respectively.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"512\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-Review-512x512.webp\" alt=\"Carlyle Tactical Private Credit Fund performance\" class=\"wp-image-92937\" style=\"width:310px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-Review-512x512.webp 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-Review-300x300.webp 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-Review-150x150.webp 150w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-Tactical-Private-Credit-Fund-Review.webp 600w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\">   <\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Class M Shares<\/h3>\n\n\n\n<p>The fund\u2019s net asset value is $8.56.<\/p>\n\n\n\n<p>The MTD, QTD, and YTD returns each stood at 0.59%.<\/p>\n\n\n\n<p>The M shares have grown significantly since their launch, as seen by their remarkable cumulative return of 63.58%. The ITD annualized gain is 11.06%.<\/p>\n\n\n\n<p>The annualized return over three years is 7.12%, and the return over one year is 9.96%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Class N Shares<\/h3>\n\n\n\n<p>The fund has a net asset value of $8.52 and gains of 0.76% on a month-to-date, quarter-to-date, and year-to-date basis.<\/p>\n\n\n\n<p>The fund has recorded a 6.82% annualized ITD return and 46.33% cumulative ITD&nbsp;return.<\/p>\n\n\n\n<p>These shares logged a three-year annualized return of&nbsp;8.01% and a profit&nbsp;of 10.77% over one year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Class U Shares<\/h3>\n\n\n\n<p>The NAV of the fund is $8.57.<\/p>\n\n\n\n<p>The year-to-date, quarter-to-date, and month-to-date returns all reached 0.71%.<\/p>\n\n\n\n<p>Inception-to-date gains are 25.87% cumulatively and 10.10% yearly.<\/p>\n\n\n\n<p>The fund had a 9.96% return over the last year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Class Y Shares<\/h3>\n\n\n\n<p>The fund\u2019s NAV is $8.52.<\/p>\n\n\n\n<p>It has 0.62% MTD, QTD, and YTD returns.<\/p>\n\n\n\n<p>The annualized ITD return is 6.13%, and the cumulative ITD return is 46.28%.<\/p>\n\n\n\n<p>The fund&#8217;s one-year return hit 10.18%, and its three-year annualized return reached 7.60%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"341\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-CTAC-Private-Credit-Fees-512x341.jpg\" alt=\"Carlyle CTAC Private Credit fees\" class=\"wp-image-92940\" style=\"width:462px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-CTAC-Private-Credit-Fees-512x341.jpg 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-CTAC-Private-Credit-Fees-300x200.jpg 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-CTAC-Private-Credit-Fees-768x511.jpg 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/02\/Carlyle-CTAC-Private-Credit-Fees-scaled.jpg 825w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\"><sub><sup>image by Johannes Plenio<\/sup><\/sub><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Carlyle CTAC Private Credit Fees<\/h2>\n\n\n\n<p>The fund&#8217;s managed assets are subject to a management charge of 1%.<\/p>\n\n\n\n<p>Also, after expenses are subtracted, only investment income is subject to a 15% incentive fee.<\/p>\n\n\n\n<p>A 6% performance fee with a 100% catch-up provision will only be assessed if the hurdle rate is reached.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Pros and cons of Carlyle Tactical Private Credit Fund<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The fund has so far had a track record of regular payouts.<\/li>\n\n\n\n<li>Investors can access the private credit market through CTAC, which often offers greater rates vs public markets.<\/li>\n\n\n\n<li>However, CTAC could not have as much liquidity as publicly listed funds because it is an interval fund.<\/li>\n\n\n\n<li>Compared to ordinary investments, private credit investments may be riskier due to their complicated nature, which includes interest rate changes and possible defaults.<\/li>\n\n\n\n<li>Investors should give serious thought to the fees since they may affect total returns.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Siete afflitti dall'indecisione finanziaria? <\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"288\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-512x288.jpg\" alt=\"\" class=\"wp-image-117505\" style=\"width:683px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-512x288.jpg 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-300x169.jpg 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-768x432.jpg 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-scaled.jpg 825w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/it\/become-adams-client\/\">Diventa mio cliente<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/it\/good-match-quiz\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fare il quiz sull'idoneit\u00e0 del cliente<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/it\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">Contatto<\/a><\/div>\n<\/div>\n\n\n\n<p><strong>Adam \u00e8 un autore riconosciuto a livello internazionale in materia finanziaria con oltre 830 milioni di visualizzazioni di risposte su Quora, un libro molto venduto su Amazon e un contributo su Forbes.<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Carlyle Tactical Private Credit Fund ha un track record di versamenti regolari e gli investitori possono accedere al mercato del credito privato. Tuttavia, CTAC, un fondo intermedio, potrebbe non avere la stessa liquidit\u00e0 dei fondi quotati in borsa. Gli investimenti nel credito privato possono essere pi\u00f9 rischiosi di altre opzioni.<\/p>","protected":false},"author":14,"featured_media":92945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10166176115445471_100883565069113":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[11534],"tags":[31807,31804,31806,31805],"class_list":["post-92582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-review-articles","tag-carlyle-group","tag-carlyle-tactical-private-credit-fund","tag-ctac","tag-ctac-fund"],"_links":{"self":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/92582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/comments?post=92582"}],"version-history":[{"count":3,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/92582\/revisions"}],"predecessor-version":[{"id":92947,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/92582\/revisions\/92947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/media\/92945"}],"wp:attachment":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/media?parent=92582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/categories?post=92582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/tags?post=92582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}