The Carlyle Group has underlined the return of the large buyout funds that were a trademark of the boom years after it secured $13bn for its flagship North American vehicle.
It took Carlyle, its fundraising partner David Rubenstein and 269 investors from 43 countries two years to close the fund, which had a $10bn initial target.
WSJ reported that Carlyle purchased a hedge fund of funds firm, Diversified Global Asset Management Corp.
Recall the boom years went BOOM, causing Carlyle to make over $650 million in capital calls to CalPERS and to roll up its Blue Wave Partners hedge fund.
