The Carlyle GroupNASDAQ
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  • Today, 4:07 AM
    • Prominent public pension funds have turned their backs on hedge funds, and so have a few big insurance companies. Now, one of the world's biggest private equity firms, the Carlyle Group (NASDAQ:CG), is walking away, too.
    • "When our performance falls short, it is critical that we deal with the consequences," Carlyle co-founder Bill Conway Jr. said.
    • Investors took $28B out of the industry in Q3, according to Hedge Fund Research, marking the biggest quarterly outflow since the depths of the financial crisis.
    | Today, 4:07 AM
  • Wed, Oct. 26, 6:38 AM
    • Carlyle (NASDAQ:CG): Q3 EPS of -$0.02 may not be comparable to consensus of $0.33.
    • Revenue of $607.3M (+104.1% Y/Y) beats by $101.12M.
    • Press Release
    | Wed, Oct. 26, 6:38 AM
  • Tue, Oct. 25, 5:30 PM
  • Thu, Oct. 13, 9:45 AM
    • Neptune Oil & Gas, the energy acquisition firm set up last year by Carlyle Group (NASDAQ:CG) and CVC Capital Partners, is in talks to buy French utility Engie’s (OTCPK:ENGIY) oil and gas business, Bloomberg reports.
    • The Engie assets, spanning the U.K., Norway, Algeria, Egypt, Germany and Asia, reportedly could fetch ~$4B.
    • Engie has said it plans to sell as much as €15B ($16.5B) in assets by 2018 and that it sought to reduce its exposure to oil and gas prices.
    | Thu, Oct. 13, 9:45 AM
  • Tue, Oct. 11, 4:48 PM
    • Former BP CEO Tony Hayward is working with Carlyle Group (NASDAQ:CG) to find and acquire Latin American oil assets, Sky News reports.
    • Hayward is seeking oil assets to buy in countries including Argentina and Colombia and has lined up a team of executives to run the business under Carlyle's ownership, according to the report.
    • If successful, Hayward reportedly would be paid a fee by Carlyle for introducing the deal to the firm, although it is not clear whether he would have an ongoing role in the management of the new venture.
    | Tue, Oct. 11, 4:48 PM | 3 Comments
  • Fri, Oct. 7, 4:05 AM
    • Total (NYSE:TOT) has agreed to sell its specialty chemicals unit Atotech to Carlyle  (NASDAQ:CG) for $3.2B as the French oil major disposes of non-core assets to weather a slump in crude and preserve payouts to shareholders.
    • Total is also working on the sale of some "mature" offshore oil fields in the North Sea and Africa this year, and plans to sell businesses in its Italian marketing and services division in 2017.
    | Fri, Oct. 7, 4:05 AM | 3 Comments
  • Tue, Sep. 27, 11:12 AM
    • "For any professional investor, this is the most difficult period we’ve ever experienced,” says Joe Baratta, Blackstone's (NYSE:BX) global head of private equity. “You have historically high multiples of cash flows, low yields. I’ve never seen it in my career. It’s the most treacherous moment.”
    • For private-equity players, lofty valuations make it a great time to cash in on investments, but a not-so-great time to redeploy capital into new deals. Not finding a lot of value in large LBOs, Baratta says Blackstone is targeting smaller companies with lower leverage.
    • Source: Bloomberg's Devin Banerjee
    • Other interested parties: Carlyle Group (NASDAQ:CG), Apollo Global (NYSE:APO), KKR, Fortress Investment (NYSE:FIG)
    | Tue, Sep. 27, 11:12 AM | 18 Comments
  • Mon, Sep. 26, 3:09 AM
    • A consortium formed by KG Group and NHN Entertainment (OTC:NHNEF) has dropped its bid for acquiring McDonald's Korea (NYSE:MCD), Money Today reports.
    • Recently, CJ Group dropped out of the race as well, leaving a consortium formed by Carlyle Group (NASDAQ:CG) and Maeil Dairies as the preferred bidder.
    • Carlyle has also submitted bids for McDonald's in China and Hong Kong - a deal expected to fetch around $3B.
    | Mon, Sep. 26, 3:09 AM
  • Tue, Sep. 20, 5:04 PM
    • An affiliate of the Carlyle Group (CG -1.2%) is selling another 10M shares of CommScope (COMM -0.8%).
    • CommScope shares are off another 0.3% in after-hours trading. It won't receive any proceeds from the sale.
    • Carlyle had sold a similar amount last month, reducing its holdings to 16.2% of CommScope stock. The new move cuts its holdings to about 19.72M shares, or about 10.2% of CommScope.
    • The sole underwriter, Credit Suisse Securities, has a greenshoe option to buy up to 1.5M additional shares. The offering is expected to close next Monday.
    • Shares in CommScope are up 7.2% in the month since Carlyle's late-August sale plan.
    | Tue, Sep. 20, 5:04 PM
  • Tue, Sep. 20, 2:39 AM
    • Takata (OTCPK:TKTDY) shares fell 12% in Tokyo as bidders for the company were said to consider the possibility of some form of bankruptcy proceedings for the air bag maker behind the auto industry's biggest ever safety recall.
    • Suitors have been asked to submit their proposals by early this week, and include Carlyle (NASDAQ:CG), Daicel Corp. and KKR, sources told Bloomberg.
    | Tue, Sep. 20, 2:39 AM | 2 Comments
  • Thu, Sep. 15, 3:15 AM
    • McDonald's (NYSE:MCD) has received final bids from at least three groups for its China and Hong Kong outlets, with Carlyle Group (NASDAQ:CG) and TPG Capital separately teaming up with Chinese partners for the business worth up to $3B, sources told Reuters.
    • Real estate firm Sanpower Group also made an offer for the assets. The company had previously said it was teaming up with Beijing Tourism Group.
    | Thu, Sep. 15, 3:15 AM | 2 Comments
  • Thu, Sep. 8, 2:33 PM
    • Philadelphia Energy Solutions, operator of the largest oil refinery on the east coast, says its finances are “significantly stressed” and is looking to cut workers, reduce benefits and delay capital projects, according to a Bloomberg report.
    • The company, owned by Carlyle Group (CG +0.8%) and Energy Transfer Partners' (ETP -0.1%) Sunoco (SUN +0.2%) unit, reportedly says ~$250M in costs for government-backed ethanol blending credits this year, low fuel prices and high east coast inventories are forcing it to cut spending in all areas.
    • East coast refining margins have been pressured by seasonally high inventory levels of gasoline, and the front-month gasoline crack spread on the Nymex is the lowest for this time of the year since 2013.
    | Thu, Sep. 8, 2:33 PM | 5 Comments
  • Fri, Sep. 2, 3:29 AM
    • South Korea's Maeil Dairy Industry is considering a bid for acquiring McDonald's (NYSE:MCD) South Korean operations in partnership with the Carlyle Group (NASDAQ:CG).
    • According to investment banking sources, a sale could be worth up to 600B won ($535M).
    • Carlyle has also teamed up to bid for McDonald's outlets in China and Hong Kong in a deal worth between $2B-$3B.
    | Fri, Sep. 2, 3:29 AM | 2 Comments
  • Mon, Aug. 29, 9:29 AM
    • Returns have been lame and assets under management are vanishing, so what's to like about the vehicles anymore?
    • AUM at Claren Road have dipped to under $1B from $8.5B two years ago, and another fund - Vermillion - was rejiggered last year after posting losses, and renamed Carlyle Commodity Management. Earlier this year, Carlyle (NASDAQ:CG) shut Diversified Asset Management - its fund of fund business, and just later, the head of its Global Market Strategies unit stepped down to start his own investment management company.
    • “This is the business segment where our performance did not meet our or our investors’ expectations," says CFO Curt Buser. "We’re thinking through kind of what the next steps are there.”
    | Mon, Aug. 29, 9:29 AM
  • Wed, Aug. 24, 10:19 AM
    • CommScope (COMM +2.7%) says a sale of its shares by a Carlyle Group (NASDAQ:CG) affiliate has been upsized to 10M shares.
    • The company announced yesterday that the Carlyle fund would sell 7M shares. CommScope won't see any of the proceeds.
    • Credit Suisse, the sole underwriter, will again have a greenshoe option (to buy up to 1.5M more shares from Carlyle). Afterward, Carlyle will beneficially own 29.7M-31.2M shares, or a stake between 15.4% and 16.2%.
    | Wed, Aug. 24, 10:19 AM | 5 Comments
  • Tue, Aug. 23, 5:02 PM
    • CommScope (COMM +1.5%) is off 1% after hours as it notes the sale of 7M shares of its stock by an affiliate of Carlyle Group (NASDAQ:CG), with Credit Suisse acting as sole underwriter.
    • CommScope won't see any proceeds from the offering, which is expected to close about Aug. 29.
    • CS will have an option to purchase up to 1.05M more shares from Carlyle, after which Carlyle will continue beneficially owning about 33.2M-4.2M shares (17.2%-17.8% stake).
    | Tue, Aug. 23, 5:02 PM | 1 Comment