Thursday, July 22, 2010

Carlyle Group to Cash-In Philosophy

The Carlyle Group is shopping Philosophy, a skin care products maker, for $1 billion. The private equity underwriter (PEU) purchased Philosophy in 2007 for $475 million. Carlyle could ring the register for more than a double. Add four years of management fees and dividends, the latest at $50 million, and returns grow to what?

Carlyle continues their Exit-pallooza. Churn has a new smell. It's PEU.