Sunday, 1 March 2015
Last updated 1 day ago
Dec 17 2010 | 9:38am ET
An Abu Dhabi sovereign wealth fund is upping its stake in private equity giant the Carlyle Group.
Mubadala Development Co. yesterday announced a $500 million investment in Carlyle. Washington, D.C.-based Carlyle will use the money "to expand product lines and offerings to Carlyle's investors," while Mubadala will receive an unspecified amount of added equity and convertible bonds.
Carlyle is widely expected to go public in 2012.
Mubadala more than three years ago bought a 7.5% stake in the p.e. firm for about $1.3 billion. The firm last month agreed to invest $100 million in Russian hedge fund Verno Capital.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…