Thursday, 26 November 2015
Last updated 9 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…