The Carlyle Group related stories
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Toll-road ace tapped for Blackstone infrastructure armThe New York firm has asked Trent Vichie of Macquarie Securities to lead Blackstone’s newly unveiled developed-infrastructure business. Vichie, an Australian national, was instrumental in the Chicago Skyway transaction, a landmark US toll road privatization.
- Rubenstein: LP-GP pendulum to shift
Limited partners will have louder voices on issues including deal fees and fund sizes, Carlyle co-founder David Rubenstein said at a conference today. He also gave 15 reasons why the financial crisis has been good for private equity.
- Report: CICC, Shanghai International team on RMB 20bn venture
China’s biggest investment bank and the government-owned asset management firm are reportedly establishing a private equity firm to manage up to RMB 20bn.
- WI Harper hires four, promotes one
The venture firm has promoted Francis Chen from venture partner to vice chairman and boosted its deal cutting capabilities in China’s cleantech and core technology sectors with four new hires.
- Pass-the-parcel
Guy Hands this week knocked deals done between financial sponsors. Toby Mitchenall explores the issue.
- Investcorp cuts staff
Investcorp has become the latest firm to take cost-cutting measures as it plans to lose 90 staff, representing 20 percent of its workforce.
- Carlyle-backed automotive firm enters insolvency
The private equity firm lost €185m on its investment into German manufacturer Edscha, which declared bankruptcy yesterday. Edscha is a manufacturer of car parts for companies including BMW and Rolls Royce, but a drop in demand has affected the company in the last three months.
- Sequoia’s founding member in China resigns
Zhang Fan has resigned from Sequoia Capital China after four years at its helm. In 2005, he co-founded the affiliate with Neil Shen, who is reportedly embroiled in litigation with The Carlyle Group. Carlyle has alleged the rival firm backdated an investment agreement to win a deal.
- Private equity firms eye GOME
Bain, Carlyle, KKR, Warburg Pincus and the Hopu Fund are among those reportedly interested in a 20 percent stake in the Chinese retailer.
- CVC closes €11bn fund, eyes Royal Mail
CVC has missed the €12.1bn target for its fifth European buyout fund in a tough environment that has seen several firms slash targets on new and existing funds. The UK-headquartered firm is also reported to be among private equity firms looking to part-privatise UK Royal Mail.