The Carlyle Group related stories
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Carlyle adds ex-Charles Schwab CFO as advisorThe private equity giant has named Christopher Dodds as a senior advisor less than three months after the departure of financial services co-head David Zweiner. In related news, the firm also exited telecom company Crest Communications for $70m.
- Unions launch global protest against private equity industry
The US’ largest union of long-term care workers, the Service Employees International Union, launched its ‘global day of action’ today targeting KKR, its portfolio company Toys R Us and pension funds and politicians in support of the buyout industry. Unite, the largest union in Britain, also joined the cause.
- Carlyle, RREEF secure $613m for NYC luxury apts
A partnership between The Carlyle Group, Deutsche Bank’s RREEF and Extell Development Company is in play to develop two luxury residential buildings in Manhattan after securing one of the largest construction loans in the US this year.
- Carlyle closes €530m Euro tech fund
The fund, which is twice the size of its predecessor, has made its maiden investment: a £50m secondary buyout of a UK-based aerospace parts supplier.
- Carlyle-backed software company withdraws $200m IPO
SS&C Technologies, which develops financial management software for hedge funds and institutional investors, filed for a NASDAQ float last year. Carlyle acquired the company in a $941m take-private in 2005.
- Rubenstein: PE to rescue troubled US mortgage assets
The Carlyle co-founder said he and other private equity players would be among the biggest buyers of the distressed mortgage- and real estate-related assets set to be acquired by the US governments’ $700bn financial rescue plan.
- Senate passes $700bn bailout plan
The US Senate has approved the $700bn financial bail-out plan allowing the US Treasury to buy distressed assets in the form of securities backed by home mortgages. The US House of Representatives is expected to vote on the bill Friday.
- Abraaj nears $4bn fund close
Existing LPs have committed $3bn toward the latest buyout fund from the MENASA-focused firm, which has just purchased a controlling stake in the Karachi Electric Supply Company for an estimated price of $400m.
- Carlyle says $2bn Neuberger bid too low
The Washington, DC-based firm wants to outbid Bain and Hellman & Friedman for Lehman’s investment management unit, but has said provisions in the sales agreement including a $110m break-up fee will have a chilling effect on additional bidders.
- Judge approves auction for Lehman's investment management division
The auction for Lehman's Neuberger Berman and units including private equity fund of funds and secondaries, as well as infrastructure, will proceed despite objections from Carlyle over a $2.15bn bid from Bain and Hellman & Friedman.