The Carlyle Group (CG) - NASDAQ
  • Dec. 22, 2015, 3:53 PM
    • Claren Road Asset Management suffered another $950M in withdrawal requests this quarter, according to Bloomberg, and the fund will start the year with just $1.25B in AUM vs. $8.5B at the peak in Sept. 2014.
    • At issue for the hedge fund - majority owned by Carlyle Group (NASDAQ:CG) - is a 10.1% decline in 2014, and another 5.2% fall in this year's first three quarters.
    • Claren Road received redemption requests of roughly $2B in Q3, forcing the fund to delay paying money back in order to minimize the damage to those investors hanging on.
    | Dec. 22, 2015, 3:53 PM | 4 Comments
  • Dec. 16, 2015, 7:33 AM
    • "The main driver of our downgrade is our view of a lack of a near-to intermediate term positive catalyst for the shares," says analyst Brian Bedell, cutting Carlyle (NASDAQ:CG) to Hold from Buy, with price target reduced to $16 from $21.
    • He notes risk of lower realizations into 2016 and risk of continued subdued performance of three of the company's four business units.
    • Since topping out for the year at the start of May, CG is down about 50%.
    | Dec. 16, 2015, 7:33 AM | 2 Comments
  • Dec. 15, 2015, 10:18 AM
    • The group is sporting some nasty looking price charts, but Citigroup isn't seeing any dip-buying opportunities just yet.
    • The team downgrades Affiliated Managers Group (AMG +4.2%), OM Asset Management (OMAM +0.3%), and the Carlyle Group (CG +2.1%) to Neutral from Buy.
    • Waddell & Reed (WDR +1.1%) and Artisan Partners (APAM +0.2%) are downgraded to Sell from Neutral.
    • Previously: Asset managers punished in high-yield selloff (Dec. 14)
    | Dec. 15, 2015, 10:18 AM
  • Dec. 10, 2015, 10:26 AM
    • Outliers to the upside in private-equity today are KKR (KKR +3.8%) and Apollo Global (APO +3.9%) as Jefferies initiates coverage on three of the battered sector's names.
    • KKR is started with a Buy and $20 price target - 27% upside to last night's close. Apollo is started with a Buy and $19 PT - 25% upside to last night's close.
    • The Carlyle Group (CG +0.7%) is initiated with a Hold and $19 price target.
    | Dec. 10, 2015, 10:26 AM | 14 Comments
  • Dec. 8, 2015, 9:52 AM
    • With the stock price charts of all three moving sharply down and to the right for several months, Bank of America pulls Buy ratings on Apollo Global (APO -3%), Blackstone (BX -2.6%), and Carlyle Group (CG -1.5%). All are downgraded to Neutral.
    • Not completely giving up on the sector, BofA upgrades the equally beaten-down Ares Management to a Buy.
    | Dec. 8, 2015, 9:52 AM | 11 Comments
  • Nov. 23, 2015, 9:38 AM
    • Airbus (OTCPK:EADSY) aims to pick a buyer for its defense electronics unit by the end of 2015 as part of its plan to dispose of assets with combined revenues of around €2B, Chief Executive Tom Enders told Frankfurter Allgemeine Sonntagszeitung.
    • The final offers for the defense electronics business, which could fetch a price of up to €1B, are due early next month.
    • Sources told Reuters that Rheinmetall (OTCPK:RNMBY) has tied up with buyout group Blackstone (BX -1%) to bid for the unit, rivaling private equity groups Cinven, Carlyle (CG +0.5%) and (KKR +0.3%) as well as French peer Thales (OTC:THLEY).
    | Nov. 23, 2015, 9:38 AM | 1 Comment
  • Nov. 17, 2015, 11:43 AM
    • Reuters reports banks have withdrawn financing for the $8B sale (announced in August) of Symantec's (SYMC -0.2%) Veritas storage software unit to Carlyle (CG +0.1%). The sale has been expected to close by Jan. 1.
    • Symantec hasn't moved much on the report. The market's original reaction to the deal was lukewarm, with Symantec's $1.5B+ expected tax bill sparking criticism. Symantec has promised a large chunk of the deal's $6.3B in expected net proceeds to shareholders, and has suggested it will use some of the remaining funds to make security acquisitions.
    | Nov. 17, 2015, 11:43 AM | 14 Comments
  • Nov. 3, 2015, 8:11 PM
    • Booz Allen (NYSE:BAH) announces a secondary offering of 13M shares by an affiliate of The Carlyle Group (NASDAQ:CG). After the sale Carlyle will own just under 20% of BAH.
    • Booz Allen will receive none of the proceeds from the offering.
    • Shares -2.6% after hours to $29.10.
    | Nov. 3, 2015, 8:11 PM
  • Nov. 2, 2015, 3:14 PM
    • Leading the way higher for the roughed-up sector are alternative players like Och-Ziff Capital (OZM +10.1%) and KKR (KKR +9.3%). There's also Blackstone (BX +4.3%), Fortress (FIG +3.2%), Oaktree (OAK +4.2%), and Carlyle Group (CG +7.4%).
    • Traditional names like Manning and Napier (MN +11.7%), Affiliated (AMG +2.6%), Waddell & Reed (WDR +2.7%), Virtus Investment (VRTS +3.7%), and Legg Mason (LM +2.3%).
    • Many of these names have reported Q3 already, and the results have mostly disappointed. On tap for tomorrow is Och-Ziff.
    | Nov. 2, 2015, 3:14 PM | 10 Comments
  • Oct. 28, 2015, 8:06 AM
    • "Q3 economic net income was largely driven by portfolio valuations on the final day of September," says Carlyle Group (NASDAQ:CG) co-CEO David Rubenstein. "Since then global markets and valuations have moved higher."
    • Q3 economic net loss of $128M compared to profit of $180 in Q2 and $181M a year ago.
    • Distributable earnings of $244M or $0.74 per unit vs. $157M and $0.44 one year ago. Distribution was $0.56.
    • Along with the decline in the value of the company's energy holdings and a slowdown in deal flow, Carlyle also booked a charge associated with the struggling Claren Road hedge fund.
    • Total AUM of $187.7B down from $192.8B in Q2 and $140.2B a year ago.
    • Funds raised of $4.6M in Q3, bringing YTD total to $13.7B. Equity invested of $1.6B bringing YTD total to $4.6B. Realized proceeds of $3.7B bringing YTD total to $14B. Carry fund return of negative 4%, bringing YTD total to +5%.
    • Earnings call at 8:30 ET
    • Previously: Carlyle misses by $0.07, misses on revenue (Oct. 28)
    • CG flat premarket
    | Oct. 28, 2015, 8:06 AM
  • Oct. 28, 2015, 6:37 AM
    • Carlyle (NASDAQ:CG): Q3 EPS of -$0.43 misses by $0.07.
    • Revenue of $93.5M (-83.8% Y/Y) misses by $5.05M.
    | Oct. 28, 2015, 6:37 AM
  • Oct. 27, 2015, 5:30 PM
  • Oct. 14, 2015, 4:14 PM
    • Rajiv Louis is Carlyle Group's (CG -1.2%) first Indonesia-based dealmaker, but he's been fired after being fined for insider trading in 2012, while he was still an executive with UBS, reports Bloomberg.
    • Carlyle says it was unaware anything was going on until the settlement was announced.
    | Oct. 14, 2015, 4:14 PM
  • Oct. 8, 2015, 7:47 AM
    • Entergy (NYSE:ETR) agrees to sell its 583 MW Rhode Island State Energy Center to Carlyle Power Partners (NASDAQ:CG) for ~$490M.
    • The facility is a natural gas-fired, combined-cycle generating plant that entered commercial service in 2002.
    • ETR says it expects to record a net gain of ~$0.50/share, to be classified as a special item, assuming the sale closes in Q4.
    | Oct. 8, 2015, 7:47 AM
  • Sep. 23, 2015, 7:32 AM
    • British aircraft services company BBA Aviation agrees to acquire U.S. competitor Landmark Aviation from Carlyle Group (NASDAQ:CG) for $2.065B, a deal that would make the combined entity the biggest fixed-base operator in the world.
    • The deal would merge BBA's Signature Flight Support business, which has the highest number of fixed base operations in the U.S., with Landmark's, which has the third highest.
    | Sep. 23, 2015, 7:32 AM
  • Aug. 31, 2015, 7:13 AM
    • The Carlyle Group (NASDAQ:CG) offers to acquire Blyth (NYSE:BTH) for $6 per share in a deal valued at $98M.
    • The transaction is expected to close in Q4.
    • The offer from Carlyle is more than double the $2.92 closing price of shares of Blyth on Friday.
    | Aug. 31, 2015, 7:13 AM | 1 Comment
Company Description
The Carlyle Group LP is a diversified multi-product global alternative asset management firm. It advises investment funds and other investment vehicles that invest across a range of industries, geographies, asset classes and investment strategies and seek to deliver attractive returns for its... More
Sector: Financial
Industry: Asset Management
Country: United States