Carlyle completes takeover of Toronto hedge funds manager DGAM
U.S. private equity firm The Carlyle Group has completed its previously-announced purchase of Diversified Global Asset Management Corp (DGAM), a Canadian hedge funds manager with more than US$6.7 billion in managed and advised assets. The financial terms of the deal remained undisclosed. Carlyle said DGAM will join its solutions platform alongside AlpInvest Partners, a private equity fund-of-funds with US$48 billion of assets under management, and Metropolitan Real Estate Equity Management LLC, a real estate multi-manager with US$2.6 billion in commitments. Founded in 2004, the Toronto-based DGAM invests on behalf of institutional investors.
4 February 2014•3 mins read
