Carlyle Gets $500 Million Investment From Abu Dhabi

[Joanne98]

Source: Bloomberg

Carlyle Group received a $500 million investment from Mubadala Development Co., part of the Abu Dhabi government, as the world’s second-biggest private equity firm prepares for an initial public offering.

Mubadala will receive convertible subordinated notes and additional equity in the firm, Carlyle said in an e-mailed statement today without giving further details. The private- equity firm sold a 7.5 percent stake to Mubadala in 2007 after shelving plans for an IPO amid the credit crisis.

Leveraged buyout firms are still struggling to raise money to expand and fund acquisitions even as the pace of their takeovers more than doubled to $238 billion this year, according to data compiled by Bloomberg. The Washington-based firm, founded in 1987 by William Conway, David Rubenstein and Daniel D’Aniello, plans to file papers for an IPO late next year, according to people with knowledge of the matter.

“Our partnership with Mubadala continues to strengthen as we collaborate on investment opportunities and share sector and regional economic insights,” Rubenstein said in the statement. The firm will use the money partly to expand its range of investment products. Officials at Mubadala and Carlyle declined to give further details.



Read more: http://www.bloomberg.com/news/2010-12-16/carlyle-gets-500-million-abu-dhabi-investment-as-fund-prepares-for-offer.html

[Demeter]

1. Dear Emir, Poppy Says Thanks!