Wednesday, December 2, 2009

Will Reuters' Carlyle Group-Brazil Story Stay Up?

Six months ago Bloomberg ran a story on The Carlyle Group investing $1 billion in Brazilian companies over a five to seven year period. It disappeared within hours. Today, Reuters reported:

U.S. private equity firm Carlyle Group [CYL.UL] plans to announce two or three deals soon in Brazil, Latin America's largest economy, co-founder David Rubenstein said on Wednesday.

The deals may be in the $100 million range, he said on the sidelines of an industry conference in Brazil's financial capital, Sao Paulo.

Carlyle goes Carnaval. Look for global corporafornication. Two Carlyle investors found their past association distasteful. Hopefully Carlyle will do better with its Brazilian bazillions.