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CG

The Carlyle Group

6/19/2013, 9:56 AM ET

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Wednesday, June 19, 8:34 AM KKR is among the bidders for a majority stake in Saudi fast food chain Kudu, reports Reuters. The company operates over 200 restaurants in the kingdom and could be valued in the area of $260M-$390M, according to a source. Carlyle Group (CG) was also reached out to for a bid, but has reportedly declined to participate. 1 Comment [Financials, M&A]
Monday, June 17, 1:52 AM KKR (KKR), Blackstone (BX), Carlyle (CG) and prospective strategic buyers such as U.K.-based Inmarsat (IMASF.PK) and Australia's NewSat (NWTLD.OB) are among the suitors to have reportedly placed first-round bids for the satellite operations of Singapore Telecoms' Australian unit, Optus, which SingTel values at over A$2B ($1.9B). SingTel advisers Credit Suisse (CS) and Morgan Stanley (MS) will provide a loan of A$1.7B that the acquirers can use to finance the deal. Comment! [Financials, Tech, Consumer, M&A]
Friday, June 14, 3:42 AM Looking to benefit from the housing rebound, HD Supply plans to raise up to $1.33B in its IPO by selling 53.2M shares, or about 29%, for $22-25 each. At the midpoint of the range, the building supplies company would have an enterprise value of $8.67B, including a working-capital surplus of about $1.2B. HD Supply's owners include Carlyle Group (CG) and former parent company Home Depot (HD), which has a 12.5% stake. Comment!
Thursday, June 13, 11:25 AM Nearly-free money is plentiful right now, but the P-E industry is staying modest in its use of it, says Carlyle (CG) co-CEO David Rubenstein. He doesn't see bubbles in either equity or debt markets, but admits easy money makes his business more complicated - on one hand you have P-E firms tempted to overbid, on the other you have buyout targets choosing not to sell out, but instead refinance. 1 Comment [Financials]
Tuesday, June 11, 4:37 PM Carlyle Group (CG) is reportedly seeking to raise $4B to start a U.S. real estate fund. Comment! [Financials]
Thursday, June 6, 11:16 AM There's more cashing in of chips (previous) in the P-E sector with Carlyle (CG -2.5%) pricing an 11M share secondary of units offered by CalPERS at $27 each. CalPERS no longer owns a stake in Carlyle after having been an investor since 2001. The stock is up 34% since its IPO about a year ago. (PR) Comment! [Financials, On the Move]
Tuesday, June 4, 4:57 AM Calpers intends to sell its 4% stake in Carlyle (CG) after having owned shares in the private-equity firm for 12 years. The holding was worth $373.3M at the end of trading yesterday. The move comes after Calpers moved to sell part of its stake in Apollo last month. At the end of March, Calpers had $4B invested in Carlyle funds, equivalent to 40% of its P-E program. Comment! [Financials, M&A]
Sunday, June 2, 2:43 AM Carlyle Group (CG) has agreed to sell a 27-story office and retail building on Madison Avenue near Central Park for $1.3B, the highest amount paid of a commercial property in Manhattan in over two years. Carlyle bought the tower in 2008 for a reported $680M, although it's not clear what the private-equity firm's profit on the building is, as it invested additional money in the property. The buyer is a venture of Crown Acquisitions and Highgate. 4 Comments [M&A, Financials]
Friday, May 31, 5:01 AM Carlyle (CG) and Blackstone (BX) are reportedly preparing to bid for H-P's (HPQ) 60.5% stake in Indian IT services outsourcer MphasiS. Other potential suitors include MphasiS peers L&T Infotech and Tech Mahindra, both of which could join up with the P-E firms to make offers. 2 Comments [Tech]
Wednesday, May 29, 7:18 AM Carlyle Group (CG) bets on bricks and mortar retail in China buying a 49% stake in two Chinese shopping malls located in second-tier cities Hangzhou and Suzhou. The malls sound like familiar ones, with fashion and electronics stores, Starbucks, and Wal-Mart. Comment! [Financials]
Wednesday, May 29, 1:55 AM Private equity firms KKR (KKR), Carlyle (CG) and Blackstone (BX) are among the suitors that are reportedly interested in bidding for Australia's Optus Satellite, which is valued at over A$2B ($1.9B). Optus owner Singapore Telecommunications (SNGNF.PK) has set June 14 as the deadline for first-round offers. The potential buyers are attracted by Optus' steady cashflow and the low capital expenditure that it apparently requires. Comment! [M&A, Tech, Consumer, Financials]
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]