After taking over two British companies sans pension plan, the Carlyle Group, a private equity underwriter (PEU), will partner with Nigeria's PENCOM. Nigeria's The Nation reported:
Nigeria’s drive to attract foreign investors is yielding results as one of the world’s largest global alternative asset management companies, Carlyle Group, is in the country to invest in agriculture and financial services.Carlyle's David Rubenstein, said the group’s private equity investments in Nigeria will have positive impact in job creation, capacity building, infrastructural and economic development as well as increased revenue from taxes.
Nigeria should know Carlyle dumped RAC's and Brinton's pension plans. Carlyle's nearly tax free status in the U.S. became clear in their S-1 filing with the SEC. Will PENCOM get a cut of annual management fees? Surely, they'll take a slice of special dividend distributions.
Rubenstein, said a significant portion of Carlyle Sub-Saharan Africa Fund's (CSSAF’s) capital would be deployed in Nigeria.
What happens when billionaire kings of disparity teach their models to former European colonies, accustomed to the white man's greed and bleed? The good news is Carlyle only intends to stay 5-10 years. That is unless they launch CSSAF II.
