Tuesday, 2 June 2015
Last updated 1 hour ago
Feb 5 2014 | 8:27am ET
The Carlyle Group has closed its deal for fund of hedge funds Diversified Global Asset Management.
The private-equity giant completed the acquisition for the US$6.7 billion Toronto-based firm yesterday. The purchase, which will cost Carlyle as much as US$103 million, was announced in December.
DGAM becomes Carlyle's fund of funds platform. It remains run by co-founders George Main, Warren Wright, Graham Thouret and Jeff Lucassen, who set the firm up in 2004.
Carlyle paid US$33 million upfront for DGAM, and could make additional performance-based payouts of up to $70 million over the next seven years.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…