The Carlyle Group related stories
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NY State disgorges placement fee detailsState comptroller Thomas DiNapoli has today released details on 94 funds to which former comptroller Alan Hevesi committed capital. The comprehensive list also includes the names of placement agents used and the fees they were paid.
- Harvard hires real estate head
Daniel Cummings, formerly of The Carlyle Group and LaSalle Investment Management, will reportedly take over as managing director of real estate investment for Harvard University’s endowment. The position has been vacant since 2007.
- 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.
- Blackstone, Morgan Stanley top PERE 30
The New York-based private equity real estate firms are once again the two largest private equity real estate firms in the world. The top 30 firms raised more than $211 billion in value-added, opportunistic capital over the past five years.
- 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.
- Report: Church Pension Fund opens in Hong Kong
The New York-based pension fund is opening its first Asian office in Hong Kong and has hired Eric Mason, who was formerly at The Carlyle Group.
- Michael Pralle leaves JER
The chief operating officer of JE Robert Companies has left the firm after just 18 months. It follows the departure of European head Malcom Le May and after sources said the McLean, Virginia-based firm was focusing increasingly on asset management.
- Carlyle collects $1bn for ‘bad bank’ fund
The New York-based firm is raising $3bn for its financial services-focused fund. TPG and JC Flowers are also looking to invest in the sector.
- Carlyle nets $234m from Maneely break-up
Russian steelmaker Novolipetsk Steel will pay the buyout firm less than half the maximum possible damages for withdrawing from the $3.53bn acquisition of John Maneely, a deal struck last August.