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14 Stories

September 2008
- WaMu Looks to Private Equity as Bank Teeters
  
  Wall Street Journal | Sep 25, 08 8:52 AM CDT
  
  (Newser) - Washington Mutual is hoping private equity will save the bank after its efforts to broker a sale to another financial institution came to nothing. Both the Carlyle Group and Blackstone are considering a takeover of WaMu, insiders tell the Wall Street Journal , although a deal is not yet assured. Many banks, from Santander in Spain to JPMorgan Chase and Citibank, have been reluctant to take on WaMu's troubled loans. More »
  
  Tags
  
  private equity • takeover • Washington Mutual • Carlyle Group • WaMu • Blackstone
August 2008
- Lehman Shops Key Unit in Quest for Cash
  
  Wall Street Journal | Aug 19, 08 8:50 AM CDT
  
  (Newser) - Lehman Brothers is shopping a piece of its investment management unit, the Wall Street Journal reports, joining other large banks in shedding strong-performing businesses to offset mortgage meltdown losses. Lehman’s management business, which includes Neuberger Berman and hosts 27 mutual funds managing $22 billion in individual and institutional wealth, has been a rare bright spot for the company. More »
  
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  Citigroup • subprime mortgage crisis • Blackstone Group • investment banks • Carlyle Group • Lehman Brothers Holdings • mutual funds • Merrill Lynch & Co
March 2008
- Stocks Rally After Big Losses
  
  MarketWatch | Mar 13, 08 4:01 PM CDT
  
  (Newser) - Stocks rallied in the afternoon to recover big early losses, buoyed by a prediction from Standard & Poors that the end was in sight for banks' subprime writedowns. The Dow—at one point down more than 230 points—finished up 35.5 points to close at 12,145.74, MarketWatch reports. The Nasdaq gained 19.74 points to end at 2,263.61, and the S&P 500 rose 6.7 points to 1,315.47. More »
  
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  Dow Jones • S&P 500 • subprime mortgages • Nasdaq • writedowns • Carlyle Group • Carlyle Capital
- Carlyle Near Collapse After Defaulting on $16B
  
  Wall Street Journal | Mar 13, 08 7:31 AM CDT
  
  (Newser) - Carlyle Capital announced overnight that it is defaulting on $16.6 billion in debt, and its creditors are likely to take possession of its remaining assets. The latest casualty of the credit catastrophe is a major embarrassment for Carlyle Group, the private equity firm whose executives own 15% of the fund, reports the Wall Street Journal . Carlyle's fall demonstrates how the world's biggest banks are now playing hardball with their best clients. More »
  
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  credit crisis • private equity • Carlyle Group • Carlyle Capital
- As Margin Calls Mount, Carlyle Holds 'Crisis Talks'
  
  Washington Post | Mar 10, 08 12:40 PM CDT
  
  (Newser) - The Carlyle Group is holding emergency talks with lenders to try to save its drowning Carlyle Capital division, the Washington Post reports. Creditors have decided that Carlyle’s portfolio of traditionally safe mortgage-backed securities holdings isn’t good enough in the current market, and they're demanding $400 million more in collateral. Some have declared Carlyle Capital in default and may have sold $5 billion in assets. More »
  
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  housing crisis • mortgage crisis • credit market • private equity • mortgage backed securities • Carlyle Group • mortgage loans
- Dow Plummets 214 Points
  
  MarketWatch | Mar 6, 08 3:44 PM CST
  
  (Newser) - The markets fell sharply today as the dollar hit a fresh low against the euro, oil prices hit a fresh high, and more bleak news on the housing front came to light, MarketWatch reports. The Dow plummeted 214.6 points to settle at 12,040.39, its lowest level in 18 months. The Nasdaq fell 52.31 points to 2,220.50, and the S&P 500 dropped 29.36 to 1,304.34. More »
  
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  Dow Jones • S&P 500 • Nasdaq • oil price • weak dollar • liquidity • Carlyle Group • Thornburg Mortgage
- Magna Carta Back in US Archives
  
  Washington Post | Mar 4, 08 5:35 PM CST
  
  (Newser) - The Magna Carta returned to the National Archives yesterday after facing an uncertain fate on the auction block last year, the Washington Post reports. The 13th-century English document, a precursor to the US Bill of Rights 500 years later, is now on permanent loan from a US businessman who bought for $21 million. More »
  
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  democracy • Carlyle Group • National Archives • Bill of Rights • Magna Carta • David Rubenstein • history of democracy
October 2007
- Hit the Road, Jack—or You Can Lease It
  
  Time | Oct 24, 07 11:15 AM CDT
  
  (Newser) - Cruising the Goldman Sachs Turnpike might not be as futuristic as it seems, Time reports, as more states lease highways to private companies to raise quick cash for infrastructure needs. And backlash didn't stop Indiana from grabbing $3.8 billion for a 75-year lease on the Indiana Toll Road. States and localities are considering 71 such projects, worth $104 billion. More »
  
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  Goldman Sachs • governor • privatization • highways • Carlyle Group • Indiana Toll Road
August 2007
- Banks Might Derail Home Depot Deal
  
  Wall Street Journal | Aug 24, 07 7:10 AM CDT
  
  (Newser) - The pending sale of part of Home Depot took an ugly turn last night as three banks and three private equity firms entered into a showdown over financing. Home Depot dropped its asking price by over $1 billion, but the banks involved—JPMorgan Chase, Lehman Brothers and Merrill Lynch—have threatened to withdraw from a deal that may become the first casualty of the credit crunch. More »
  
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  credit crisis • Lehman Brothers • Merrill Lynch • private equity • JPMorgan Chase • buyout • Home Depot • Carlyle Group • Bain Capital
- Credit Jitters May Put KKR Offering on Ice
  
  Times (UK) | Aug 23, 07 7:45 AM CDT
  
  (Newser) - The Times of London claims that buyout firm KKR has postponed plans for a $1.25B float and a public listing because of the fallout from turbulent credit markets. The company had planned its IPO this September but has reportedly pulled back due to waning investor confidence following the subprime collapse. KKR, however, claims that the IPO is continuing full steam ahead. More »
  
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  subprime mortgages • credit market • private equity • IPO • Carlyle Group • KKR • Kohlberg Kravis Roberts
July 2007
- Deals Excite Nervous Markets
  
  Wall Street Journal | Jul 2, 07 8:06 PM CDT
  
  (Newser) - The Dow rose 126.81 points to 13535.43 today, as several big deals assuaged traders worried the recent LBO spate is coming to an end. Chief among them, the Journal 's Market Watch reports, was a $32.6B buyout of BCE, Canada's largest telecom, by a consortium including two US firms. More »
  
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  Dow Jones • stock market • S&P 500 • NASDAQ • Carlyle Group • LBO • Virgin Media
- Carlyle Bids on Faltering Virgin Media
  
  Wall Street Journal | Jul 2, 07 1:37 PM CDT
  
  (Newser) - The friendly corporate raiders at the Carlyle Group have floated an offer to buy out Virgin Media, the British cable provider, with total equity in the range of $8B and $10B, the Journal reports. The besieged media company has been losing customers to rivals in the UK, and has stacked up debt nearing $12B. More »
  
  Tags
  
  Internet • cell phones • media • Goldman Sachs • acquisitions • cable TV • buyout • Richard Branson • Carlyle Group • Virgin
June 2007
- Blackstone IPO Fetches $4.13B
  
  Bloomberg | Jun 21, 07 5:05 PM CDT
  
  (Newser) - The Blackstone Group went public today, selling 133.3 million shares at $31 and raking in $4.13 billion, the largest American IPO since 2002. The keenly anticipated issue values the private equity firm, founded by Stephen Schwarzman 27 years ago with $400,000, at $33.5 billion; the price bodes well for other buyout specialists. KKR and Carlyle are also considering going public, Bloomberg reports. More »
  
  Tags
  
  stocks • private equity • IPO • Blackstone Group • Carlyle Group • KKR • Steve Schwarzman
April 2007
- Public Binge Predicted for Private Equity
  
  Financial Times (UK) | Apr 25, 07 2:09 PM CDT
  
  (Newser) - Private equity giant Carlyle Group will likely go public within five years, its co-founder said at a conference yesterday. David Rubenstein predicted a sea-change for the industry, as fund founders cash out before they retire, the FT reports. More »
  
  Tags
  
  business • money • private equity • Blackstone Group • Carlyle Group • David Rubenstein