Tuesday, August 18, 2009

The Carlyle Group in Clover

Next up for The Carlyle Group? Cheap Irish real estate, according to the Irish Independent.

Top-level property firms and private equity funds, including Carlyle Group, Blackstone and British Land, have already expressed interest in buying up cheap Irish property that could come on the market as a consequence of the establishment of the National Asset Management Agency (NAMA).
The article suggests private equity underwriters (PEU's) are more interested in commercial real estate, office buildings and shopping centers with blue chip international tenants. The report also stated:

According to the RICS survey, of the 27 countries surveyed, 75% reported a rise in the number of distressed commercial property coming to the market. South Africa, the US, New Zealand, Hungary and the Caribbean reported greater increases than Ireland. China and Brazil showed the strongest markets.
With crisis, comes opportunity. With Carlyle, this is usually taxpayer aided. Creating one's luck requires an unlevel playing field. Ask Carlyle Group co-founder William Conway about his firm's field tilting capabilities.