WHO IS THE CARLYLE GROUP?
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It is hard to imagine an address closer to the heart of American power. The offices of the Carlyle Group are on Pennsylvania Avenue in Washington DC, midway between the White House and the Capitol building, and within a stone's throw of the headquarters of the FBI and numerous government departments.
The address reflects Carlyle's position at the very center of the Washington establishment, but amid the frenetic politicking that has occupied the higher reaches of that world in recent weeks, few have paid it much attention. Elsewhere, few have even heard of it.
This is exactly the way Carlyle likes it. For 14 years now, with almost no publicity, the company has been signing up an impressive list of former politicians - including the first President Bush and his secretary of state, James Baker; John Major; one-time World Bank treasurer Afsaneh Masheyekhi and several south-east Asian powerbrokers - and using their contacts and influence to promote the group.
Among the companies Carlyle owns are those which make equipment, vehicles and munitions for the US military, and its celebrity employees have long served an ingenious dual purpose, helping encourage investments from the very wealthy while also smoothing the path for Carlyle's defense firms.
But since the start of the "war on terrorism", the firm - unofficially valued at $13.5bn - has taken on an added significance.
Carlyle has become the thread which indirectly links American military policy in Afghanistan to the personal financial fortunes of its celebrity employees, not least the current president's father.
And, until earlier this month, Carlyle provided another curious link to the Afghan crisis: among the firm's multi-million-dollar investors were members of the family of Osama bin Laden.
The closest the Carlyle Group has previously come to public attention was last May, when a Seoul-based employee called Peter Chung was forced to resign from his £100,000-a-year job after sending an email to friends - subsequently forwarded to thousands of others - boasting of his plans to "f*** every hot chick in Korea over the next two years".
The more business-oriented activities of Carlyle's staff have been conducted much more quietly : since it was founded in 1987 by David Rubenstein, a policy assistant in Jimmy Carter's administration, and two lawyer friends, the firm has been dispatching an array of former world leaders on a series of strategic networking trips.
Last year, George Bush Sr and John Major traveled to Riyadh to talk with senior Saudi businessmen.
In September 2000, Carlyle hired speakers including Colin Powell and AOL Time Warner chair Steve Case to address an extravagant party at Washington's Monarch Hotel.
Months later, Major joined James Baker for a function at the Lanesborough Hotel in London, to explain the Florida election controversy to the wealthy attendees.
We can assume that Carlyle pays well.
Neither Major's office nor Carlyle will confirm the details of his salary as European chairman - an appointment announced shortly .... READ MORE ......
RELATED:
Carlyle to Form Buyout Fund With Beijing Government
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Jan. 12 (Bloomberg) -- Carlyle Group, the world’s second- largest private-equity firm, said it will set up a domestic Chinese private equity fund with the Beijing government.
The fund, to be registered in China’s capital, will be established by the Beijing Municipal Bureau of Financial Work and Carlyle Asia Partners, Carlyle said in an e-mailed statement.
The yuan-denominated fund will be entitled to “preferential treatment” from the government, it said.
Carlyle follows Blackstone Group LP, which became the first global private-equity firm to set up a 5 billion yuan ($731 million) fund with the Shanghai government in August to target investments in the eastern coastal city and neighboring areas.
China is stepping up efforts to build its own private equity industry as the government seeks to foster corporate governance and strengthen capital markets.
“You’ll see this trend continue with more global private equity titans seeking to raise domestic money in China with government-backed institutions,” said Alfred Lam, research associate at the Asian Venture Capital Journal.
“It helps deal sourcing and capital is more readily available than in other parts of the world.”
The Carlyle Asia Partners renminbi fund will invest alongside the Asia buyout group of Carlyle, which signed a memorandum of understanding with the Beijing Municipal Bureau of Financial Work, and pursue independent investments, according to the statement.
(snip)
It is hard to imagine an address closer to the heart of American power. The offices of the Carlyle Group are on Pennsylvania Avenue in Washington DC, midway between the White House and the Capitol building, and within a stone's throw of the headquarters of the FBI and numerous government departments.
The address reflects Carlyle's position at the very center of the Washington establishment, but amid the frenetic politicking that has occupied the higher reaches of that world in recent weeks, few have paid it much attention. Elsewhere, few have even heard of it.
This is exactly the way Carlyle likes it. For 14 years now, with almost no publicity, the company has been signing up an impressive list of former politicians - including the first President Bush and his secretary of state, James Baker; John Major; one-time World Bank treasurer Afsaneh Masheyekhi and several south-east Asian powerbrokers - and using their contacts and influence to promote the group.
Among the companies Carlyle owns are those which make equipment, vehicles and munitions for the US military, and its celebrity employees have long served an ingenious dual purpose, helping encourage investments from the very wealthy while also smoothing the path for Carlyle's defense firms.
But since the start of the "war on terrorism", the firm - unofficially valued at $13.5bn - has taken on an added significance.
Carlyle has become the thread which indirectly links American military policy in Afghanistan to the personal financial fortunes of its celebrity employees, not least the current president's father.
And, until earlier this month, Carlyle provided another curious link to the Afghan crisis: among the firm's multi-million-dollar investors were members of the family of Osama bin Laden.
The closest the Carlyle Group has previously come to public attention was last May, when a Seoul-based employee called Peter Chung was forced to resign from his £100,000-a-year job after sending an email to friends - subsequently forwarded to thousands of others - boasting of his plans to "f*** every hot chick in Korea over the next two years".
The more business-oriented activities of Carlyle's staff have been conducted much more quietly : since it was founded in 1987 by David Rubenstein, a policy assistant in Jimmy Carter's administration, and two lawyer friends, the firm has been dispatching an array of former world leaders on a series of strategic networking trips.
Last year, George Bush Sr and John Major traveled to Riyadh to talk with senior Saudi businessmen.
In September 2000, Carlyle hired speakers including Colin Powell and AOL Time Warner chair Steve Case to address an extravagant party at Washington's Monarch Hotel.
Months later, Major joined James Baker for a function at the Lanesborough Hotel in London, to explain the Florida election controversy to the wealthy attendees.
We can assume that Carlyle pays well.
Neither Major's office nor Carlyle will confirm the details of his salary as European chairman - an appointment announced shortly .... READ MORE ......
RELATED:
Carlyle to Form Buyout Fund With Beijing Government
(snip)
Jan. 12 (Bloomberg) -- Carlyle Group, the world’s second- largest private-equity firm, said it will set up a domestic Chinese private equity fund with the Beijing government.
The fund, to be registered in China’s capital, will be established by the Beijing Municipal Bureau of Financial Work and Carlyle Asia Partners, Carlyle said in an e-mailed statement.
The yuan-denominated fund will be entitled to “preferential treatment” from the government, it said.
Carlyle follows Blackstone Group LP, which became the first global private-equity firm to set up a 5 billion yuan ($731 million) fund with the Shanghai government in August to target investments in the eastern coastal city and neighboring areas.
China is stepping up efforts to build its own private equity industry as the government seeks to foster corporate governance and strengthen capital markets.
“You’ll see this trend continue with more global private equity titans seeking to raise domestic money in China with government-backed institutions,” said Alfred Lam, research associate at the Asian Venture Capital Journal.
“It helps deal sourcing and capital is more readily available than in other parts of the world.”
The Carlyle Asia Partners renminbi fund will invest alongside the Asia buyout group of Carlyle, which signed a memorandum of understanding with the Beijing Municipal Bureau of Financial Work, and pursue independent investments, according to the statement.
