Economic contagion is at the gates, even of the princes of private equity.
Retirement home for ex-presidents and prime-ministers and investment vehicle the Carlyle Group‘s Carlyle Capital Fund is the latest bankrupt:
The Carlyle Group’s publicly traded firm Carlyle Capital is near ruin as its publicly traded firm Carlyle Capital Corp. defaulted on approximately $16.6 billion of debt. The company said that the remaining indebtedness is expected to soon to go into default.
CCC is the Washington-based investment firm’s mortgage bond fund and is the latest casualty of the U.S. credit crisis. In total, Washington-based Carlyle Group had $74.9 billion under management in 57 funds.
It’s an Amsterdam-based fund and will cause some consternation here. Carlyle insist though that this will have little effect on their business.
But then they would, wouldn’t they?
