Simpson Thacher Steers Carlyle In TCW Acquisition

Law360, New York (August 9, 2012, 4:12 PM EDT) -- The Carlyle Group LP will buy TCW Group, a Los Angeles-based asset manager, from French bank Societe Generale SA, the private equity giant said Thursday, becoming the latest buyout firm to bulk up with European sell-offs.

Financial terms of the transaction were not disclosed. TCW manages some $130 billion in capital, including a $42 billion mutual fund business, and its clients include some of America’s biggest pension funds.

Most of the equity for the transaction comes from two Carlyle funds, its $1.1 billion Carlyle Global Financial...
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