Thursday, March 13, 2008

Carlyle Deflates

I kept wondering about this, now I know.

The big news in the stock market today is the collapse of the Carlyle Groups Hedge fund. I was wondering if this is the same Carlyle as the Baker/Bush Carlyle Group. Well, it is.

Carlyle Capital, the bond fund affiliated with private equity firm The Carlyle Group, is on the verge of collapse after failing to agree a new financing deal with lenders.

The fund said late Wednesday that it expects lenders will soon take possession of “substantially all” its remaining assets after it was unable to meet surging margin calls on its portfolio of residential-mortgage-backed securities.
Couldn't happen to a nicer bunch.

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