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The Carlyle Group Inc. (NASDAQ: CG) is a prominent global investment firm with deep industry expertise. Founded in 1987 in Washington, DC, the company has evolved into one of the world's largest investment firms, managing $426.0 billion in total assets, including $307.4 billion in fee-earning assets as of December 2023. Carlyle operates through 29 offices across five continents, employing nearly 1,850 professionals.
Carlyle's business is divided into three core segments: Global Private Equity, Global Credit, and Global Investment Solutions. The private equity segment includes funds focused on private equity, real estate, infrastructure, and natural resources, contributing 35% of fee-earning AUM and 63% of base management fees in 2023. The global credit segment accounts for 50% of fee-earning AUM and 25% of management fees, while investment solutions make up the remaining 15% of AUM and 12% of management fees.
The firm's client base primarily consists of institutional investors and high-net-worth individuals. Carlyle's investment strategy emphasizes creating value for its investors, portfolio companies, and the communities in which it operates.
In recent news, Carlyle has made significant strides in various sectors. The firm recently announced the acquisition of a $415 million private student loan portfolio and a strategic investment into Monogram LLC, a leader in finance solutions for students and their families. This partnership aims to enhance private student loan offerings, leveraging Monogram's extensive experience and Carlyle's financial backing.
Additionally, Carlyle's subsidiary, Carlyle Credit Income Fund (NYSE: CCIF), focuses on investing in equity and junior debt tranches of collateralized loan obligations (CLOs). The fund will release its financial results for the first and second quarters of 2024 after market close on February 29 and May 29, respectively.
Carlyle continues to demonstrate its commitment to strategic growth through its latest investment of $180 million in Zippy Shell Incorporated, a leading containerized moving and storage company. This investment is aimed at refinancing existing debt and supporting strategic growth initiatives, further solidifying Carlyle's role as a key player in the alternative-asset management industry.
In summary, Carlyle Group Inc. stands out as a global leader in investment management, continuously driving value creation through strategic partnerships, innovative financial solutions, and a diverse portfolio.
Clayton, Dubilier & Rice (CD&R) and Greenbriar Equity Group announced agreements to combine Paradigm Precision, a provider of machining and fabrications for engine manufacturers, with Whitcraft Group, a manufacturer of aerospace components. This merger aims to create a diversified supplier in the aerospace industry. Both companies will enhance capabilities to better serve OEM customers globally. The transactions are expected to close in early 2023, pending customary conditions. Financial terms of the deal were not disclosed.
CNSI and Kepro have announced a merger to create a leading healthcare solutions company, aimed at enhancing health outcomes through technology and clinical expertise. The combined entity will focus on improving healthcare access, quality, and efficiency for government-sponsored healthcare agencies. Todd Stottlemyer of CNSI will lead the new organization, while Susan Weaver of Kepro will serve as President. The merger, expected to close in December 2022, is backed by Carlyle (NASDAQ: CG), with both companies maintaining their operational headquarters.
Aspen Power Partners has acquired Safari Energy from PPL Corporation for
Mensura Capital announced it advised Advanced Marine Preservation (AMP) in its sale to Armada Parent, a portfolio company of Carlyle (NASDAQ: CG). The transaction details remain undisclosed. AMP specializes in preservation services for the U.S. Navy, ensuring defense readiness amidst increasing global challenges. Armada operates various subsidiaries within maritime and industrial services. Mensura, founded in 2007, focuses on M&A services for middle-market companies in the maritime sector, emphasizing a 'measured risk' approach to optimize client transactions.
Veritas Capital has entered into a definitive agreement to acquire Sequa Corporation, the parent company of Chromalloy, from Carlyle. Financial terms were not disclosed. Sequa, based in Palm Beach Gardens, FL, specializes in solutions for aircraft engines and gas turbines through Chromalloy, a leader in aftermarket services. The acquisition is expected to close in Q4 2022. The partnership aims to leverage technology and innovation to enhance Chromalloy's offerings and expand its customer relationships, following the earlier sale of Precoat Metals to AZZ Inc.
Involta announced the appointment of Gary Wojtaszek to its Board of Directors following the company's acquisition by Carlyle (NASDAQ: CG). Wojtaszek brings extensive experience in the data center and technology sector, previously leading CyrusOne during significant growth. Involta plans to leverage his expertise to expand its data center services and enhance its operational capabilities. Under the board's guidance, Involta aims to address the increasing digital infrastructure demands of enterprise clients across the nation.
Truist Insurance Holdings, a subsidiary of Truist Financial Corporation (NYSE: TFC), announced its acquisition of BenefitMall, the largest benefits wholesale general agency in the U.S., from Carlyle (NASDAQ: CG). This strategic move will add approximately $150 million in annual revenue to Truist's wholesale division. The acquisition aims to diversify client solutions and enhance the overall client experience. The deal is expected to close in Q3 2022, pending customary conditions. BenefitMall, with over 40 years of experience, serves more than 140,000 businesses across the country.
The Carlyle Group (Nasdaq: CG) announced the departure of CEO Kewsong Lee as part of a mutual agreement with the Board, effective August 7, 2022. Bill Conway, co-founder and Non-Executive Co-Chairman, will serve as Interim CEO while a search committee seeks a permanent successor. The company emphasized its strong position with $376 billion in assets under management and reaffirmed its 2022 Fee Related Earnings target of $850 million. The transition aims to maintain momentum and enhance value for shareholders amidst macroeconomic challenges.
On August 1, 2022, White Mountains Insurance Group (NYSE: WTM) announced the completion of its sale of NSM Insurance Group to investment funds affiliated with Carlyle (NASDAQ: CG). This strategic move indicates a focus on optimizing its portfolio, although the company remains in a quiet period before releasing its second-quarter earnings. The transaction's details, including financial terms, were not disclosed, but it reflects White Mountains' ongoing efforts to enhance its market position.
Unison, a prominent provider of procurement and contract management software, is set to receive a majority investment from Madison Dearborn Partners (MDP). This investment will facilitate Unison's growth and software innovation in the government contracting sector. Existing investor Carlyle will sell its majority stake but will maintain a minority position. With over 200,000 end users, Unison serves all 15 U.S. cabinet-level agencies. The transaction is expected to close in Q3 2022, positioning Unison for accelerated development in federal government software solutions.
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