ft.com - 4/20/2009
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Carlyle, the US private equity firm, has decided to stop using placement agents to solicit money from public pension funds following the indictment of a New York state political figure to whom it paid $12m in finder’s fees. The change in policy represents the latest fallout from an investigation ...
securitiesdocket.com - 4/20/2009
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securitiesdocket.com —
The Carlyle Group stated that it has “stopped
using finders to ensure the integrity of the investment...
process” following the indictment of a New York state political figure to whom it paid $12 million in finder’s fees. The FT reports that the change in policy is part of the ...
(more)
Carlyle Group Stops Using Finders to Help Win Pension ...
securitiesdocket.com - 4/14/2009
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securitiesdocket.com —
New York State prosecutors and the SEC are
reportedly investigating whether the Carlyle Group made improper payments...
in exchange for investments from New York’s state pension fund. The NY Times reports that the inquiry focuses on the “widespread practice” among hedge funds and ...
(more)
Report: New York and SEC Investigating Payments by ...
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THE FINTAG NEWSLETTER @ 20 April 2009
FiNTAG - Hedge Fund News, Views, Opinions and Gossip —
... Fintag says Trustees with power. Offshore and out of reach. Ouch. CARLYLE TO STOP USING 'FINDERS' financial times ...
Carlyle Group Stops Using Finders to Help Win Pension Investments
Securities Docket —
... Carlyle has not been charged, and the firm says it is not a target of the investigation.
The SEC probe has focused on more than $4 billion in pension funds allocated in transactions that the authorities claim benefited Hank Morris, a former political adviser to former New York state comptroller Alan Hevesi. Carlyle paid $12 million to Morris to serve as a placement agent and received $1.3 billion from the state pension system for at least five funds, the firm said.
Read the FT article ...
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The Carlyle Group, celebrated for its political ties as well as its global investment prowess, was eager to expand in the energy business. David M. Leuschen, a specialist in oil and energy at Goldman Sachs, wanted a partner to help him lure big investors.
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securitiesdocket.com 5/14/2009 — The Carlyle Group has agreed to pay $20 million and make broad changes in its practices under a settlement reached with the NY Attorney General, Andrew M. Cuomo, as part of Cuomo’s investigation into corruption of the state pension fund. The NYT reports that under the deal, Carlyle executives ...
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