The Carlyle Group sold a Shanghai high-rise office building for half what it paid for "The Crest" in 2015. I do not know how much money Carlyle pulled out of The Crest in management fees, deal fees and special dividends. Possibly very little.
Flashback to 2011 when a major business reporter wrote:
There is no way that the Chinese government would let American firms come in and strip cash out of Chinese companies the way they've been allowed to in the US! I imagine the Chinese welcome the PE guys because they see it as another way (through PE orchestrated mergers) to get hold of more American technology and companies and jobs.
The next story involves oil and natural gas off the coast of Northern Israel/Southern Lebanon.
Energean is Carlyle's new oil/gas play headed by BP oil spew's Tony Hayward. Reuters reported:
Energean has added a second oil production unit to a floating production vessel off Israel which is set to boost its crude output by up to two-thirds in the coming months.
Production at Karish, which is close to Israel's maritime border with Lebanon, has been largely uninterrupted since the start of the Middle East conflict on Oct. 7. In July, the Israeli military said it had shot down a drone launched from Lebanon which it said was heading to the Energean FPSO.
Carlyle's international energy platform is Energean's parent
Equity for the transaction will come from the Carlyle International Energy Partners (CIEP) platform, a private equity fund that invests in energy opportunities in Europe, Africa, Latin America, and Asia.Carlyle lost a Philadelphia refinery after failing to replace a 45 year old section of pipe. Imagine what Carlyle and Tony Hayward can do together to injure workers and spoil coastlines.
I hope international governments have more backbone than ours (US). Politicians Red and Blue love PEU and increasingly, more are one.
