Saturday, January 19, 2013

Carlyle Group's Cobalt Cash In

The Carlyle Group, a politically connected private equity underwriter (PEU), cashed in one sixth of its investment in Cobalt International Energy, a deep water oil discovery company.  Proceeds from the $1 billion offering amounted to $325 million for Carlyle/Riverstone .

Peter Orszag's Citigroup and Erskine Bowles' Morgan Stanley sold the deal