Private Equity Giant Carlyle Set To Announce TCW Purchase

The Carlyle Group LP (NASDAQ: CG) is set to diversify its private equity business by purchasing TCW (Trust Company of the West) from Societe Generale.  Whether this is a full buyout or a majority stake is still mixed in reporting.  Bloomberg reported on Bloomberg TV that this is a majority stake purchase that could come as soon as today.  As this is “people familiar with the situation” we would caution that no inked deal has been formally announced by the companies.  With the voracity of the reporting on this it is far stronger than an unconfirmed market rumor, but we would still not bank on the validity of the deal until a formal deal has been announced.

The Wall Street Journal was earlier reporting that Carlyle was acquiring the asset management firm as a portfolio company.  So that means we have conflicting reports initially.  Then the WSJ has a note that TCW employees will be raising their stake in the firm.

Stay tuned.

JON C. OGG