Thursday, June 11, 2009

Carlyle Group & Riverstone Pony Up $50 million for Pension Pay to Play

The Carlyle Group and its energy joint venture Riverstone Holdings paid a combined $50 million to the New York State Attorney General to settle a "pay to play" investigation. The Carlyle Group paid $20 million and Riverstone $30 million.

Does anyone else find it odd that a private equity underwriter (PEU) can buy its way out of a corruption probe?