Carlyle To Snap Up Majority Stake In Claren Road

Law360, New York (December 7, 2010, 6:13 PM EST) -- Private equity firm The Carlyle Group has reached a deal to acquire a majority stake in hedge fund Claren Road Asset Management LLC, which has approximately $4.5 billion in assets under management. 

In an announcement late Monday, Carlyle released limited terms of the deal, which would give the firm a 55 percent stake in Claren Road, saying that Claren Road would receive a cash payment, an ownership interest in Carlyle and performance-based contingent payments. The founders of Claren Road plan to reinvest all of the cash...
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