Texan oil exploration and production company Cobalt International Energy Inc. has commenced a public offering of 50,000,000 shares of common stock, all of which will be offered by selling stockholders affiliated with U.S. and Canadian private equity firms First Reserve Corp., Goldman, Sachs & Co., Riverstone Holdings, The Carlyle Group, and KERN Partners. Cobalt was acquired by these firms at the time of its establishment in 2005, and went public in 2009.
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The Carlyle Group, the publicly traded asset manager, has closed a $623 million C.L.O. fund (typically a collection of large loans made by banks to corporations with higher amounts of leverage). It’s the firm’s second new-issue CLO of the year. Carlyle Global Market Strategies CLO 2013-2 will invest in corporate leveraged loans and high yield bonds. Morgan Stanley arranged the transaction.
Global alternative asset manager The Carlyle Group and ClearRock Properties, a northeast regional owner and operator, have acquired 920 Broadway, a 106,000-square-foot, 17-story Flatiron District office tower on the corner of 21st street and Broadway. Financial terms of the acquisition, from Einstein College at Yeshiva University, were not disclosed.
It was an ENI surprise for The Carlyle Group Thursday. The alternative asset manager, which went public just last May, reported that fourth quarter profit fell 28%.
The Carlyle Group has completed its acquisition of DuPont Performance Coatings for $4.9 billion. The global supplier of coatings to the transportation and industrial sectors is being renamed Axalta Coating Systems. The investment was funded primarily with equity from Carlyle Partners V and Carlyle Europe Partners III.
This week there’s an opportunity to apply for an associate position with one of the global fund managing big boys, Blackstone.
Perhaps Providence Equity Partners Inc. and The Carlyle Group LP did well to get out before things got worse for portfolio company Open Solutions Inc., sister magazine Buyouts reported.
Global alternative asset manager The Carlyle Group has promoted 29 professionals to senior positions: nine to managing director and 20 to principal/director. The individuals work in Carlyle’s offices around the globe conducting buyout, growth capital, real asset and global market strategies transactions, as well as investor services activities.