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CG

The Carlyle Group

5/25/2013, 4:53 PM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 24, 3:39 PM Private-equity is taking profits, with this week's 7 offerings pushing the year's total to 86, more than double the amount this time last year, according to Dealogic. The dollar amount of $34B is a triple. In addition to Oaktree (OAK) and Apollo (APO) insiders cashing in some chips this month, Bain sold chunks of Bloomin Brands and Sensata (ST), Carlyle (CG) unloaded part of Wesco Aircraft, and teamed with Blackstone (BX) to sell $1.3B of Nielsen Holdings (NLSN). Comment! [Financials]
Friday, May 24, 5:08 AM KKR (KKR) and Carlyle Group (CG) are among several investment funds that are reportedly expected to bid for shares in Panasonic's (PCRFY.OB) healthcare business, for which the Japanese conglomerate hopes to raise up to $1B. Toshiba is among the strategic investors that could make an offer. The deadline for first-round bids is Monday. Comment! [Healthcare, M&A]
Wednesday, May 22, 9:51 AM Leon Black's strategy of "selling everything not nailed down" while at the same time raising new investment funds seems to be working as Apollo Global (APO) is the best-performing (on a Y/Y basis) of the alternative-asset stocks. "Apollo has aggressively entered harvesting mode and you're seeing shareholders reap the benefits," says CS's Howard Chen, who has a Buy rating. Also in the top 5 were FIG, BX, and KKR, while CG and BAM scraped the bottom. In between are relative newcomers OAK and OZM. Comment! [Financials]
Wednesday, May 22, 9:02 AM Carlyle Group (CG) takes advantage of the change in sentiment regarding Japan, planning to raise $2B for a Japan fund to succeed its previous fund started 7 years ago. The previous fund initially raised about the same amount, but was reduced due to a lack of deals. One thinks things may turn out differently this time. Comment! [Financials]
Friday, May 17, 1:08 PM Goldman Sachs (GS) launches the Goldman Sachs Multi-Manager Alternatives Fund offering alternative and non-traditional investment strategies to investments as little as $1K. P-E firms from CG to KKR to BX have noted much of their future growth will not from the institutional side, but from individuals in search of yield. Comment! [Financials]
Tuesday, May 14, 3:28 PM "The emergence of the individual investor" is one of Carlyle Group's (CG) top 10 changes to P-E following the financial crisis (podcast). P-E firms used to getting money from institutional investors now have individuals - frustrated by low returns - eager to invest. Yes, there is fee pressure, but it's not affecting carried interest (20% of profits), which is really where the owners of P-E firms make out. Comment! [Financials]
Thursday, May 9, 7:46 AM More on Carlyle Group (CG) Q1 earnings: "The Carlyle Engine" - 1) $4.9B in funds raised ($16.9B last 12 months) 2) $2.5B of equity invested ($8.8B LTM) 3) Carry fund returns of 7% (11% LTM) 4) Realized proceeds of $4.1B ($19.1B LTM). Conference call at 8 ET. (PR) Comment! [Financials, Earnings]
Thursday, May 9, 6:41 AM Carlyle Group (CG): Q1 EPS of $1.02 beats by $0.08. Revenue of $1.15B beats by $354.31M. (PR) Comment! [Earnings, Breaking News, Financials]
Friday, April 26, 4:48 AM Onex (ONEXF.PK) might reportedly have to settle for a price of $2.5B for its Carestream Health unit, or not sell it at all, after just Bain and Thomas H. Lee Partners were left in the auction for the medical imaging company. Onex's hopes of getting up to $3.5B were dampened after the likes of Carlyle (CG) and KKR (KKR) pulled out of talks due to Carestream Health's uncertain outlook. Comment! [Healthcare, M&A]
Thursday, April 25, 1:00 PM Investors seem pleased with KKR's new payout plan - which doesn't necessarily increase the dividend, but does make it more frequent and predictable - sending the shares 5% higher. KKR is trading meaningfully below its peers (CG, BX), says Sandler O'Neill's Michael Kim, expecting distributions to reach $1.24 this year, implying more than a 6% yield. Comment! [Financials, On the Move]
Tuesday, April 23, 7:27 PM An unidentified seller plans to unload 6M shares (currently $196M worth) of Carlyle Group (CG) Wednesday, IPO Boutique says, in a trade that would be underwritten by Deutsche Bank - the second block trade involving the P-E firm in just over a month. Comment! [Financials]
Friday, April 19, 11:08 AM AES Corp. (AES -0.2%) says its Chairman, Philip Odeen, has retired after 10 years on the power and utilities company's board and will be succeeded by director Charles Rossotti. Mr. Rossotti has been a Director on the board since March 2003 and serves as Chairman of the Financial Audit Committee. He also serves as a Senior Advisor with the Carlyle Group (CG +1.6%), one of the world's largest private equity firms. Comment! [Energy]
Thursday, April 18, 3:35 PM Benjamin Lawsky - the head of NY's newish Dept. of Financial Services - says he will not shy away form taking the "lead" in confronting the country's financial giants. Hinting at one line of inquiry, Lawsky tells conference attendees he's concerned about P-E firms (BX, CG, KKR) buying insurance companies as their short-term focus may lead to a boost in investment risk. Comment! [Financials]
Thursday, April 18, 11:31 AM Blackstone (BX -0.8%) reverses a big premarket move higher, perhaps as COO Tony James tells reporters in a pre-CC interview he sees a "spring swoon" for the economy and growth "not exactly around the corner." He sees "vast potential" as high net worth individuals - whose assets exceed those of institutions - are "way underrepresented" in the P-E space, and applauds retail offerings by CG and KKR. 2 Comments [Financials]
Monday, April 15, 3:07 AM Thermo Fisher Scientific (TMO) is reportedly closing in on a deal to acquire genetic testing equipment maker Life Technologies (LIFE) for $12.8B after the latter's board chose Thermo Fisher's offer over lower proposals from Sigma-Aldrich (SIAL), a provider of chemicals for research laboratories, and from a consortium involving private-equity firms Blackstone (BX), Carlyle Group (CG) and KKR (KKR). Thermo Fisher has offered $75 a share, 11% above Life's close of $68 on Friday. 1 Comment [Healthcare, M&A, Top Stories]
Wednesday, April 10, 3:50 AM Thermo Fisher Scientific (TMO) reportedly made a binding offer of over $65 a share for genetic testing equipment maker Life Technologies (LIFE) ahead of a bid deadline yesterday. A consortium of private-equity firms, including Blackstone (BX), Carlyle (CG) and KKR (KKR), are also looking to make a proposal despite missing the deadline. Life's shares closed at $66.19, giving it a market cap of $11.28B. 1 Comment [Healthcare, M&A, Top Stories]