Banking, finance, and taxes
Private Equity Giant Carlyle Set To Announce TCW Purchase
Published:
Last Updated:
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
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
