Michael Hart appointed president of Carlyle GMS Finance

The Carlyle Group has appointed Michael Hart as managing director and president of Carlyle GMS Finance, a business development company targeting middle market investing, as well as its affiliated investment vehicle, NF Investment Corp. Hart joins Carlyle from Blackrock Solutions, where he was a managing director and co-head of the US advisory practice within the financial markets advisory group.


CCMP agrees to buy part of Carlyle’s stake in PQ Holdings

CCMP Capital Advisors has agreed to invest in PQ Holdings, a specialty chemical business for the consumer, oil and gas, transportation safety, specialty plastics and industrial markets. CCMP has agreed to acquire a 47 percent interest in PQ from The Carlyle Group. Existing shareholders INEOS, Carlyle and company management will continue to own about 53 percent of the company. The deal is expected to close in late 2014 to early 2015.

Labour Day

peHUB First Read

Here’s a Labor day edition of First Read including a look at Carlyle’s Chinese private equity activity, CalPERS seeking a private equity investment officer II, LPs expanding their alternative asset investment teams and the latest in Asian private equity activity.


Carlyle Group closes $816 mln CLO fund

The Carlyle Group has closed a collateralized loan obligation fund totaling about $816 million. The CLO was arranged by Citigroup and is Carlyle’s third this year in the U.S. The CLO fund will invest primarily in senior secured bank loans. With this closing, Carlyle has raised about $3.23 billion in CLOs this year — $2.16 billion in the U.S. and $1.07 billion in Europe.


Carlyle completes majority investment in Traxys Group

The Carlyle Group has completed the acquisition of a majority interest in the Traxys Group, a metal and minerals commodity merchant, logistics and trading firm. Carlyle made the deal along with affiliates of Louis M. Bacon, founder, chairman and chief executive officer of Moore Capital Management. Traxys’ management has increased its stake in the business as part of the deal. The Carlyle-led investor group bought its stake in Traxys from Pegasus Capital Advisors, Kelso & Company and Resource Capital Funds.


Apollo cites separate accounts as big growth area

As the universe of private equity limited partners expands to include massive pools of capital like sovereign wealth funds, firms are working to find ways of satisfying growing appetite for specially tailored accounts that meet specific investment needs.


Startup offers legal work from the cloud

Wondering why you’re paying so much to have routine legal documents prepared? The question lies at the heart of the business model of a start-up company called InCloudCounsel, sister magazine Buyouts reports.


Carlyle forms partnership with Dangote Industries to invest in Africa

The Carlyle Group has formed a strategic partnership with Dangote Industries to invest in Sub-Saharan Africa. Carlyle will invest through the Carlyle International Energy Partners fund to invest in the oil and gas industry including exploration and production and refining and gas commercialization. The partnership, through the Carlyle Sub-Saharan Africa Fund, also will invest in consumer, financial services and agribusiness.


Centre Partners completes sale of Ross Aviation

Centre Partners Management has completed the sale of Ross Aviation to Carlyle Group-backed Landmark Aviation. Ross Aviation provides aviation fueling, hangar and other services to business and commercial airline customers.

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