lennart
12-05-03, 14:58
http://www.businessweek.com/magazine/content/03_19/b3832147_mz035.htm
Can Carlyle Grab the Buyout Crown in Europe?
After a slow beginning, it's now chasing the biggest deals
With its links to the U.S. political Establishment and its big defense-industry investments, Carlyle Group has become the private-equity firm that antiwar protesters love to hate. Thus it was no surprise when on Apr. 7 police arrested nearly 100 demonstrators for blocking the entrance to its New York City office. But there wasn't a whisper of protest in Europe on that same day, when Carlyle announced one of its biggest deals ever outside the U.S.: a planned $1.76 billion acquisition of FiatAvio, the aerospace unit of Italy's Fiat.
Indeed, Carlyle has put down a surprisingly faint footprint in Europe. True, it has invested more than $1 billion on the Continent since opening its first European outpost in 1997. And two years ago, it brought aboard former British Prime Minister John Major as European chairman, just as it has lined up a roster of U.S. rainmakers that includes former President George H.W. Bush. But most of Europe's multibillion-dollar buyouts have been snapped up by Carlyle rivals such as Kohlberg Kravis Roberts & Co. of the U.S. and Cinven of Britain.
Now, Carlyle is ready to move to the head of the pack. The FiatAvio bid follows a flurry of deals over the past few months, including Carlyle's initial foray into European defense with the purchase of a 33.8% stake in British defense group QinetiQ for $320 million. Jean-Pierre Millet, who runs Carlyle's European buyout team from Paris, says the group moved slowly at first. That gave it time to build up contacts and assemble a team of more than 50 investment specialists. "It took time to crack this market," says Millet.
After committing more than 90% of its first $1 billion European buyout fund, Carlyle is raising money for a new fund, which could top $3 billion. That will be used to fund deals such as the FiatAvio transaction, which is expected to be completed this summer. Carlyle has two other European funds, one for technology investments and another in real estate. "Any big deal that goes on in Europe now, you can be sure Carlyle will be at the table," says Ricky Morton of PrivateEquity.com, which tracks private-equity investments from London.
Carlyle groep + Bilderberg groep hebben relaties:
http://www.propagandamatrix.com/bilderberg_2002.html
Can Carlyle Grab the Buyout Crown in Europe?
After a slow beginning, it's now chasing the biggest deals
With its links to the U.S. political Establishment and its big defense-industry investments, Carlyle Group has become the private-equity firm that antiwar protesters love to hate. Thus it was no surprise when on Apr. 7 police arrested nearly 100 demonstrators for blocking the entrance to its New York City office. But there wasn't a whisper of protest in Europe on that same day, when Carlyle announced one of its biggest deals ever outside the U.S.: a planned $1.76 billion acquisition of FiatAvio, the aerospace unit of Italy's Fiat.
Indeed, Carlyle has put down a surprisingly faint footprint in Europe. True, it has invested more than $1 billion on the Continent since opening its first European outpost in 1997. And two years ago, it brought aboard former British Prime Minister John Major as European chairman, just as it has lined up a roster of U.S. rainmakers that includes former President George H.W. Bush. But most of Europe's multibillion-dollar buyouts have been snapped up by Carlyle rivals such as Kohlberg Kravis Roberts & Co. of the U.S. and Cinven of Britain.
Now, Carlyle is ready to move to the head of the pack. The FiatAvio bid follows a flurry of deals over the past few months, including Carlyle's initial foray into European defense with the purchase of a 33.8% stake in British defense group QinetiQ for $320 million. Jean-Pierre Millet, who runs Carlyle's European buyout team from Paris, says the group moved slowly at first. That gave it time to build up contacts and assemble a team of more than 50 investment specialists. "It took time to crack this market," says Millet.
After committing more than 90% of its first $1 billion European buyout fund, Carlyle is raising money for a new fund, which could top $3 billion. That will be used to fund deals such as the FiatAvio transaction, which is expected to be completed this summer. Carlyle has two other European funds, one for technology investments and another in real estate. "Any big deal that goes on in Europe now, you can be sure Carlyle will be at the table," says Ricky Morton of PrivateEquity.com, which tracks private-equity investments from London.
Carlyle groep + Bilderberg groep hebben relaties:
http://www.propagandamatrix.com/bilderberg_2002.html