Carlyle Provides Over $400 Million Private Debt to Big Bus Tours

(Bloomberg) -- Carlyle Group Inc. is providing over $400 million of private credit loans to Big Bus Tours, people with knowledge of the matter said.

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Private equity firm Exponent bought Big Bus Tours in 2015. The business, which operates open-top sightseeing bus tours, will use the debt to fuel further expansion globally, according to a statement seen by Bloomberg News.

The $1.7 trillion private credit market is growing at a breakneck speed, as more private equity firms opt to finance companies they own with funding from private debt platforms such as Carlyle’s.

So-called alternative credit platforms are getting larger and larger to keep up with demand — Carlyle Global Credit unit now manages about $186 billion of assets.

Big Bus Tours is active in several cities across the world including London, Paris and New York.

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