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.
