The Carlyle Group related stories
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NY State disgorges placement fee detailsState comptroller Thomas DiNapoli today released details on 94 funds to which disgraced former comptroller Alan Hevesi committed capital, alongside the names of placement agents and the fees they were paid. It is the most detailed disclosure yet in the wake of the Henry Morris pay-to-play scandal.
- New Mexico SIC suspends alternative investing
New Mexico’s governor Bill Richardson ordered the state’s $11.8bn oil and gas endowment to suspend investing in private equity and real estate while the endowment reviews investment recommendations made by Aldus Equity. Recommended commitments to Landmark Equity, Newstone Capital, Veronis Suhler Stevenson and Ares Management will have to go through a 'vetting' process again.
- KKR sets up in Dubai
The global titan has been granted a license by the Dubai Financial Services Authority to operate from the Dubai International Financial Centre.
- Carlyle, Apollo JV eyes education take-private
Education-focused Apollo Global – a joint venture between two buyout giants – is preparing a £304m bid for BPP, a London-listed provider of professional education to the legal, accounting and finance industries.
- KKR closes in on Oriental Brewery
The global buyout firm reportedly increased its bid for the Korean beer producer to more than $1.9bn and accepted terms such as paying a further $100m if the company’s EBITDA tops estimates two years after the sale.
- New York State Common bans all placement agents
The state’s comptroller, Thomas DiNapoli, has banned the use of placement agents in investments with the $122bn pension, and has launched a review of pension investments with firms involved in the New York Common kick-back scandal.
- Mubadala writes down Carlyle stake by 36%
The Abu Dhabi investment fund’s annual report reveals it has written down its 7.5% stake in Carlyle’s management company, which would value the private equity firm at roughly $12.7bn.
- LACERS, New Mexico draft placement fee disclosure policies
As a kick-back scandal involving several public pensions grows in the US, LACERS is the latest pension to draft a disclosure policy for placement agents and other third-party marketers.
- Terra Firma eyes AIG's air finance unit
The UK-based buyout house has emerged as the third bidder for ILFC. It is competing with two consortia of private equity bidders for the multi-billion dollar business.
- Scandal-tied New Mexico reviews new commitments
New Mexico State Investment Council may place on hold $60m in commitments to funds being raised by Landmark and New Stone Capital as it investigates finder’s fees paid by private equity advisor Aldus Equity, which the endowment suspended following the emergence of an alleged New York State Common Retirement Fund pay-to-play scheme.