Friday, December 12, 2008

Carlyle Group Gets CalPERS Sponge for Bloody Financial Gutters

The Carlyle Group gained $150 million for its distressed financial assets fund. Pensions & Investments reported:

CalPERS committed $150 million to Carlyle Global Financial Services Partners, a new private equity fund that will target distressed sellers and divisional carve-outs in the financial services industry, such as banking, insurance, asset management, financial technology and consumer and commercial specialty finance companies.

CalPERS and Carlyle are ready to mop up in the midst of carnage. I trust they can wash the blood off.