| The Carlyle Group this morning announced that it has acquired a 55% economic stake in Vermillion Asset Management, a $2.2 billion commodities hedge fund manager.
Mitch Petrick, Carlyle's head of global market strategies, says that the deal is more partnership than acquisition, with Vermillion expected to maintain both its brand and its senior management. In terms of assets under management, however, all $2.2 billion is expected to be consolidated onto Carlyle's balance sheet (something of particular import for publicly-traded PE firms, which often get judged more by analysts on AUM than on actual performance)...............................................Full Article: Source |