New York-based hedge fund Okumus Fund Management has purchased 8.8 percent of The Carlyle Group’s publicly traded shares, according to a statement filed with the US Securities and Exchange Commission (SEC) late last month.
The purchase, worth $110 million according to Reuters, makes the little-known hedge fund the biggest holder of Carlyle's publicly traded stock. Only 80.2 million of Carlyle’s 324 million units are traded in the public market. Other top shareholders include big-name investors like mutual fund manager Baron Capital Management and Deutsche Bank, according to data from Morningstar.
Carlyle, which went public in 2012, boasted share prices as high as $31.88 in the past year. Stock value has since plummeted by half, and units were trading at $15.20 as of Wednesday.
Carlyle is “very pleased” with the investment and sees it as a sign of confidence in Carlyle’s future, a spokesperson told Private Equity International.
Okumus, founded in 2013, has approximately $550 million in assets under management. The hedge fund did not respond to requests for comment.