Sunday, December 23, 2012

It's a Carlyle Christmas

International Business Times reported on Christmas week's financial news.  It included:

Goldman Sachs (NYSE:GS) and Carlyle Group (NYSE:CG) are among a number of defendants that will go before United States District Judge Edward Harrington in Boston, for what they say are legitimate private-equity practices against investor allegations that buyout firms and their bankers colluded to rig offers on takeovers, according to Bloomberg.

Other stories included the expected UBS $1.5 billion fine for LIBOR rigging, a suit by credit unions against Bear Stearns/J.P. Morgan for misconduct in selling mortgage backed securities, a potential £350 million RBS fine for LIBOR rigging, and Morgan Stanley paying $5 million for selectively sharing sensitive Facebook financial information in the IPO process.

Meanwhile, Carlyle invested in an energy private equity venture, NGP Energy Capital Management.  NGP has $12.1 billion in assets under management.  Carlyle expects U.S. domestic energy to boom.

Carlyle’s growing natural resources investing platform includes energy mezzanine financing, energy infrastructure & power generation (Cogentrix), and commodities (Vermillion).

Will that get Carlyle back on track to make 30% annual returns for its faithful?

Warms the heart, doesn't it.   Moneychangers are back, PEU (private equity underwriter) and otherwise.