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Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion, according to a person with knowledge of the deal. The person spoke to The Associated Press on condition of anonymity Tuesday night because the agreement had not been announced. Rubenstein, a Baltimore native, will take over as the team's controlling owner, and he's assembled an investment team that includes Ares co-founder Michael Arougheti. The Angelos family has been in control of the Orioles since 1993, when Peter Angelos purchased the team for $173 million. The team recently reached a deal on a new lease extension at Camden Yards.

Persons: David Rubenstein, Rubenstein, he's, Michael Arougheti, Angelos, Peter Angelos, John, Carlyle, Jimmy Carter Organizations: Group Inc, Baltimore Orioles, Associated Press, Orioles, Camden, Duke, University of Chicago Law School Locations: Baltimore, Camden Yards . Maryland, Washington

☆ Exclusive: Carlyle in exclusive talks for $7 bln-plus Medtronic units deal-sources
▼ + stars: | 2023-09-29 | by ( David Carnevali | ) www.reuters.com time to read: +1 min

Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023. Medtronic is seeking to streamline its portfolio and focus on its higher-growth assets, such as its heart and diabetes devices. The units that Medtronic would shed would be moved to a new company majority-owned by Carlyle, the sources said. Medtronic would retain a stake in the new company of more than 35%, the sources added. Medtronic and Carlyle declined to comment.

Persons: Dado Ruvic, Medtronic, Carlyle, David Carnevali Organizations: REUTERS, Carlyle Group Inc, Medtronic, Carlyle, Thomson Locations: New York

NEW YORK, Sept 7 (Reuters) - Broadcast services provider NEP Group Inc, owned by private equity firm Carlyle Group Inc (CG.O), is exploring a sale of its live events business that could fetch nearly $2 billion, according to people familiar with the matter. The live events unit provides audiovisual solutions at concerts, corporate events, and music tours. NEP operates another events business that focuses on online and television broadcast services, which the sources said it plans to keep. The unit offers production services that enable the broadcasting of live sports, festivals and other events. NEP also offers outdoor broadcast services, studio production, audio and lighting solutions, and media management services.

Persons: Carlyle, Milana Vinn, Anirban Sen, Gerry Doyle Organizations: Inc, Carlyle Group Inc, National Football League, Crestview Partners, Thomson Locations: Pittsburg , Pennsylvania, New York

☆ Carlyle reports lower than expected 26% slump in Q2 earnings
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Issei Kato/File photoNEW YORK, Aug 2 (Reuters) - Private equity firm Carlyle Group Inc (CG.O) reported on Wednesday that its second quarter distributable earnings fell 26% year-on-year due to a slump in asset sales, although the result still exceeded analyst expectations. Distributable earnings, which represents the cash used to pay dividends to shareholders, fell to $388.8 million from $528.8 million a year earlier. That translated to after-tax distributable earnings per share of 88 cents, which surpassed the average estimate of 67 cents, according to Refinitiv data. Carlyle's corporate private equity and real estate funds gained 1% during the quarter, while its credit funds appreciated by 2%. By contrast, Blackstone's corporate private equity funds appreciated by 3.5% and its private credit funds rose 3.3%, while opportunistic real estate funds were flat.

Persons: Carlyle, Issei Kato, Chibuike Oguh, Jamie Freed Organizations: REUTERS, Carlyle Group Inc, Blackstone Inc, Thomson Locations: Tokyo, Japan, New York

☆ McDonald's China owners Carlyle, Trustar plan $4 billion exit - Bloomberg News
▼ + stars: | 2023-07-13 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

The logo of McDonald's is seen at its restaurant in Hong Kong, China August 27, 2021. REUTERS/Tyrone Siu/File Photo(Reuters) -Carlyle Group Inc and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald’s Corp operations in Hong Kong and mainland China, Bloomberg News reported. All stakeholders are highly aligned on the process,” McDonald’s China said in an emailed response to Reuters on Thursday. The asset managers aim to reach an agreement with investors in the fourth quarter of this year, the report added. Reuters had reported in April citing two people with knowledge of the matter that the U.S.-based private equity firm was discussing various options including setting up a continuation fund with financial advisers for its stake in McDonald’s China.

Persons: Tyrone Siu, Carlyle, Mubadala, GIC Organizations: REUTERS, Carlyle Group Inc, Trustar, McDonald’s Corp, Bloomberg News, Reuters, McDonald’s, Shareholders, Mubadala Investment, GIC Locations: Hong Kong, China, McDonald’s China, U.S

☆ McDonald's China owners Carlyle, Trustar plan $4 bln exit - Bloomberg News
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Carlyle Group Inc (CG.O) and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald's Corp (MCD.N) operations in Hong Kong and mainland China, Bloomberg News reported. All stakeholders are highly aligned on the process," McDonald's China said in an emailed response to Reuters on Thursday. The asset managers aim to reach an agreement with investors in the fourth quarter of this year, the report added. Carlyle declined to comment, while GIC did not immediately respond to a Reuters request for comment. Reuters had reported in April citing two people with knowledge of the matter that the U.S.-based private equity firm was discussing various options including setting up a continuation fund with financial advisers for its stake in McDonald's China.

Persons: Carlyle, Mubadala, GIC, Shubhendu Deshmukh, Brenda Goh, Urvi, Rashmi Organizations: Carlyle Group Inc, Trustar, McDonald's Corp, Bloomberg News, Reuters, McDonald's, Shareholders, Mubadala Investment, GIC, Thomson Locations: Hong Kong, China, McDonald's China, U.S, Bengaluru

☆ Carlyle names insider John Redett as finance chief
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Carlyle Group Inc (CG.O) named company veteran John Redett as its new chief financial officer, the investment firm said on Tuesday, in the first major appointment under Chief Executive Officer Harvey Schwartz's leadership. Redett, who will take over from Curt Buser on Oct. 1, joined Carlyle 16 years ago and currently leads the firm's global financial services. Redett, who previously worked for U.S. banking giants Goldman Sachs (GS.N) and JPMorgan (JPM.N), will also become the head of corporate strategy at Carlyle. Carlyle hired Schwartz, a former Goldman Sachs (GS.N) executive, as its chief executive officer earlier this year, after a six-month long search. Carlyle also said it has also appointed Jim Burr as the head of global financial services.

Persons: John Redett, Harvey Schwartz's, Redett, Curt Buser, Goldman Sachs, Carlyle, Buser, Schwartz, Jim Burr, Jaiveer Singh, Nivedita Bhattacharjee Organizations: Carlyle Group Inc, Carlyle, Goldman, JPMorgan, Thomson Locations: Bengaluru

☆ Carlyle names John Redett as Chief Financial Officer
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - Investment firm Carlyle Group Inc (CG.O) said on Tuesday it has appointed firm veteran John Redett to the role of chief financial officer effective October 1, 2023. Redett will succeed Curt Buser, who will retire at the end of the year after being finance chief at Carlyle since 2014, the company said in a filing. Redett, who currently leads the firm's global financial services, has also been appointed as the head of corporate strategy. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: John Redett, Redett, Curt Buser, Jaiveer Singh, Nivedita Organizations: Investment, Group Inc, Carlyle, Thomson Locations: Bengaluru

Like its peers, private equity firm Apollo was hit by a slump in dealmaking in the quarter that made it challenging to cash out of its private equity holdings for top dollar. Its asset management and retirement businesses, however, helped it cushion the blow. Apollo said its adjusted net income fell to $845 million from $917 million a year earlier. That resulted in adjusted net income per share of $1.42, lower than the average analyst forecast of $1.47, according to Refinitiv data. By contrast, private equity funds of Blackstone, Carlyle and KKR appreciated by 2.8%, 1%, and 2%, respectively.

NEW YORK, May 8 (Reuters) - KKR & Co Inc (KKR.N) said on Monday its after-tax distributable earnings fell 26% year-on-year in the first quarter due to a sharp drop in asset sales from its private equity portfolio and lower transaction fees. KKR and other private equity firms cashed out on fewer investments during the quarter as inflation, higher interest rates, geopolitical tensions and financial market volatility weighed on dealmaking. After-tax distributable earnings, which represents the cash available for paying dividends to shareholders, fell to $719.3 million, down from $974 million posted a year. For its quarterly fund performance, KKR said its private equity portfolio gained 2%, infrastructure funds added 7%, leveraged credit funds grew 4%, while opportunistic real estate funds fell 3%. In comparison, the private equity funds of Blackstone and Carlyle appreciated by 2.8% and 1%, respectively.

It was the first earnings the Washington, D.C.-based firm reported after former Goldman Sachs Inc (GS.N) executive Harvey Schwartz was named CEO in February. That resulted in after tax distributable earnings per share of 63 cents, which underperformed the average analyst forecast of 69 cents, according to Refinitiv data. Last month, Blackstone Inc (BX.N), the world's largest private-equity firm, reported a 36% drop in first-quarter distributable earnings due to slower asset disposals, primarily in its real estate portfolio. Carlyle said its credit funds appreciated by 3%, while secondaries funds rose 5% and corporate private-equity funds gained 1%. Blackstone had said its corporate private-equity funds had appreciated by 2.8% while liquid credit funds gained 3%.

☆ Carlyle eyes fresh backers for McDonald's China arm - Bloomberg News
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Carlyle Group Inc (CG.O) is considering bringing in fresh backers for its investment in McDonald's Corp's (MCD.N) China operations, seeking a valuation of $8-$10 billion for the business, Bloomberg News reported on Friday. Carlyle, which controls McDonald's China along with Trustar Capital, could sell down part of their stakes in the fast-food giant in the deal while still retaining control, the report added, citing people familiar with the matter. In 2017, the U.S fast-food chain agreed to sell most of its China and Hong Kong business to CITIC and Carlyle for up to $2.1 billion. Trustar Capital is a private equity affiliate of CITIC Capital Holdings. Carlyle, McDonald's and Trustar did not immediately respond to a Reuters request for comment.

NEW YORK, April 20 (Reuters) - The co-head of the private equity firm that owns Dominion Voting Systems said the company's $787.5 million settlement with Fox Corp (FOXA.O) held Fox accountable for spreading lies even if it did not apologize or admit wrongdoing. The settlement came with no apology or admission of wrongdoing on behalf of Fox, just an acknowledgement of the court's rulings finding some claims about Dominion to be false. Dominion and Staple Street achieved their goals by exposing the truth and Fox News' "offensive" actions and getting the media company to pay for them, Yaghoobzadeh said. In a statement following Tuesday's settlement, Fox said it was committed to the highest journalistic standards. Dominion funded the litigation through its own resources, without Staple Street or a third party providing financial backing, Yaghoobzadeh said.

Even before Tuesday's settlement, Staple Street's investment in Dominion had paid off handsomely. Yaghoobzadeh told reporters on Tuesday that Staple Street backed Dominion in its mission to shoot down lies against it. Staple Street investor Mark Hauser, managing partner of Hauser Private Equity, also welcomed the settlement news. "We are very pleased with the outcome and think that Staple Street has handled the situation very well on behalf of their investors. We’ve had a relationship with Staple Street since 2014 and think highly of their management team," he said.

☆ Manchester United tanks on report Glazers may avoid sale with new investment
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

April 17 (Reuters) - Shares of Manchester United PLC (MANU.N) fell 13% on Monday after a report said the Glazer family was confident of securing an investment that would allow them to retain ownership of the British soccer club. The family also expects the investment to help them double the value of the club over the next 10 years, ESPN reported, citing a source. Shares fell to their lowest since late NovemberA small portion of the club's shares is listed on the New York Stock Exchange. Any sale of the club would likely exceed the biggest sports deal so far - the $5.2 billion including debt and investments paid for Chelsea - sources had told Reuters previously. ($1 = 0.8083 pounds)Reporting by Akash Sriram in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Carlyle in talks to take stake in Manchester United - Sky News
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] A general view of the lobby outside the Carlyle Group offices in Washington, May 3, 2012. REUTERS/Jonathan Ernst/File PhotoApril 15 (Reuters) - U.S. buyout firm Carlyle Group Inc (CG.O) is in talks about a "major" investment in Manchester United soccer club as the auction of the Premier League team enters its final stages, Sky News reported on Saturday. Carlyle and Manchester United did not immediately respond to a Reuters request for comment. Sports industry news site Sportico reported earlier this month that Manchester United would accept a third round of bids from prospective buyers at the end of April. The Glazers bought Manchester United in 2005 for 790 million pounds in a highly leveraged deal that has been criticised for loading debt on to the club.

☆ Veritas, Carlyle end talks on Cotiviti stake sale - source
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Veritas Capital ended talks with Carlyle Group Inc (CG.O) to buy a 50% stake in private healthcare technology firm Cotiviti Inc on valuation grounds, a source familiar with the matter said. Carlyle wasn't ready to stick to the valuation that had previously been discussed in the current market conditions and submitted a revised bid in recent days, which Veritas rejected, the source said. In February, Reuters reported that Carlyle was in talks to buy a portion of Cotiviti from Veritas Capital at a valuation of around $15 billion. Cotiviti, which went public in 2016, was acquired by Veritas in 2018 in a take-private deal valued at $4.9 billion, as the private equity firm looked to expand its Verscend healthcare IT business. Carlyle and Veritas declined to comment, while Cotiviti did not immediately respond to a Reuters' request for comment.

☆ Apollo assures investors deposit flight won't spill over to Athene
▼ + stars: | 2023-03-30 | by ( Chibuike Oguh | ) www.reuters.com time to read: +5 min

Reuters GraphicsIn a quarterly update to shareholders published on March 13, Apollo outlined how Athene's funding model is different than a bank's. In the wake of the banking crisis, however, Apollo has been fielding questions from analysts and investors about Athene's funding model. Following a meeting with Apollo executives, Hone wrote in a note last week that he does not anticipate a spike in withdrawals from Athene's annuity holders and that Athene's funding base was stable. Apollo said in its March 13 presentation to investors that it had seen inflows of $8.8 billion to Athene from the start of the year to March 10. Questions from investors and analysts to Apollo have focused on this subset of annuity policies that have a potentially higher flight risk.

☆ Exclusive: ICU Medical to compete against GE Healthcare for Medtronic units -sources
▼ + stars: | 2023-03-29 | by ( David Carnevali | ) www.reuters.com time to read: +2 min

GE Healthcare and private equity firms Carlyle Group Inc (CG.O) and Clayton, Dubilier & Rice (CD&R), which have been pursuing rival offers separately, are also through to the second round, the sources added. Carlyle is bidding through its newly formed healthcare investment platform Atmas Health, according to one of the sources. Medtronic has been taking offers for its patient monitoring and respiratory interventions businesses even as it presses on with preparations to spin them off to its shareholders. ICU Medical, GE Healthcare, Carlyle and CD&R declined to comment. The patient monitoring technology portfolio includes Nellcor pulse oximetry and BIS brain monitoring, while the respiratory interventions business comprises ventilators and breathing systems.

☆ Private equity firm TPG's Q4 earnings drop 26% on lower asset sales
▼ + stars: | 2023-02-15 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 15 (Reuters) - TPG Inc (TPG.O) said on Wednesday that its fourth-quarter distributable earnings fell 26% year-on-year as it cashed out fewer investments in its private equity, growth, impact and real estate portfolios. TPG said its net profit from asset sales fell to $95 million in the fourth quarter, down 62% from the $251 million posted a year ago. TPG said its private equity funds appreciated 2.2% in the fourth quarter, its growth funds and impact funds were flat and its real estate funds fell 1.5%. The private equity funds of Blackstone, Carlyle and Apollo appreciated by 3.8%, 1% and 5.4%, respectively, while KKR's private equity funds were flat. TPG ended the fourth quarter with $135 billion in assets under management.

☆ Carlyle in talks to buy health tech firm Cotiviti for $15 bln - source
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Carlyle Group Inc (CG.O) is in talks to buy private healthcare technology firm Cotiviti Inc from Veritas Capital for up to $15 billion, including debt, a person familiar with the matter said. The private equity firm is looking to partner with another investment firm to pull off the deal, and is also in talks with direct lenders to arrange $5.5 billion of debt financing, according to the person. If the arrangement goes through, that would be one of the largest ever direct loans, or non-bank buyout loans arranged in the private credit market, according to Bloomberg News, which first reported on the talks. Atlanta-based Cotiviti provides payment accuracy and analytics services to health insurers and other healthcare companies. Carlyle, Veritas and Cotiviti did not immediately respond to Reuters requests for comments.

☆ Carlyle names former Goldman executive Schwartz as CEO
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Feb 6 - Private equity firm Carlyle Group Inc (CG.O) on Monday appointed former Goldman Sachs Inc (GS.N) executive Harvey Schwartz as chief executive officer, effective Feb. 15. The Wall Street veteran will replace co-founder and interim CEO Bill Conway, who will remain co-chairman of the board, Carlyle said. Schwartz retired from Goldman Sachs (GS.N) in 2018 after a 20 year-career at the investment banking giant. Prior to that, he was the bank's chief financial officer and was once considered a frontrunner to replace former CEO Lloyd Blankfein. "We would view the conclusion of this (CEO) search as a positive," Jefferies analysts wrote in a note.

☆ Carlyle to Name Banking Veteran Harvey Schwartz as CEO
▼ + stars: | 2023-02-05 | by ( Miriam Gottfried | ) www.wsj.com time to read: 1 min

Carlyle Group Inc. plans to name investment-banking veteran Harvey Schwartz its new chief executive, according to people familiar with the matter, as the private-equity firm’s founders seek a fresh start after a botched succession plan. Carlyle is expected to unveil on Monday the appointment of Mr. Schwartz, who most recently served as co-president of Goldman Sachs Group Inc., the people said. He spent more than two decades at the bank, building and leading various businesses.

☆ Private Equity Taps Insurers’ Cash to Speed Up Growth
▼ + stars: | 2023-01-31 | by ( Matt Wirz | Leslie Scism | ) www.wsj.com time to read: 1 min

New York-based Apollo Global Management merged with an annuity insurer that now accounts for almost half of the $523 billion Apollo manages. Investment firms that play on the cutting edge of finance are turning to one of the oldest businesses on Wall Street to turbocharge their growth: insurance. Private-credit fund managers such as Blackstone Inc., Carlyle Group Inc. and Centerbridge Partners are increasingly forming partnerships with insurers, or buying them outright. Call it the merger of slow money and fast money.

☆ Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros - sources
▼ + stars: | 2023-01-26 | by ( Elvira Pollina | ) www.reuters.com time to read: +2 min

The sources said the 20 clubs which comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs. Like other European soccer leagues, Serie A lags behind England's Premier League in terms of income and is looking at ways to revive its global appeal. Back in 2021 JPMorgan had offered to support soccer clubs looking to launch a breakaway European Super League, a plan which collapsed due to a storm of protest from fans and politicians. The sources said the Serie A clubs will assess in the coming weeks how to proceed in relation to the interest expressed by both the funds and JPMorgan.

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