One Carlyle danced on two sides of the globe. The politically-connected private equity underwriter (PEU) launched a Chinese renminbi fund. It raised 2.4 billion yuan to date, with a target of 5 billion. The fund "closed" so Carlyle can begin investing in consumer related and health care companies.
What nightmares will be exported as a result of the unholy alliance of corporate greed and abysmal quality? Carlyle & China have deadly failures in their corporate genes.
Meanwhile, Carlyle pursued another target halfway around the globe, European budget B&B Hotels.
ABC News reported:
B&B Hotels operates over 200 budget hotels in France and Germany, and is expanding in Italy, Poland and Portugal.While the need for frugality grows, Carlyle's PEU money machine churns.