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Troubles for Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, have worsened after it said it can’t meet demands of more than $400 million in margin calls from lenders, according to Bloomberg.
The fund had defaulted on about $16.6 billion of debt as of yesterday and expects additional margin calls today of $97.5 million. Lenders intend to take over Carlyle Capital’s remaining assets.
Last week, Carlyle said it expected to not meet banks’ margin calls on its $21.7 billion portfolio.
Last fall, Carlyle Group bought Allison Transmission in Indianapolis from General Motors Corp. for $5.6 billion.
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