Buying up Africa:
Carlyle plans to launch a $750m fund to invest in Africa, a continent long neglected by the large international buy-out firms, people familiar with the US private equity group said.
David Rubenstein, the group’s co-founder, has a reputation for being a pioneer in raising and investing money in frontier economies.
Mr Rubenstein was among the first buy-out executives to raise money in Libya and has oil money going into Carlyle funds from resource-rich African nations such as Angola.
http://www.ft.com/...
More like gobbling up Africa... and who knew Carlyle was so bleeding cozy with Libya?
A "significant" presence in north Africa. A "dedicated" fund for the Middle East as well as north Africa.
Funds and acquisitions, Japanese ball bearings, the fund of funds of Dutch pension funds, British dental chains, as well as a Brit developer or two...
Sadly, Carlyle's statement of "citizen corporatehood" does not warm the cockles of my heart:
We believe that we must invest wisely and responsibly to create lasting value. That means being a good corporate citizen and promoting practices that encourage social and environmental sustainability and strong corporate governance. Across six continents, we're working to create stronger companies and better communities. Find more details in our 2010 Corporate Citizenship report.
http://www.carlyle.com/...
Wooh! Such noble sentiments in the Citizenship report:
http://www.carlyle.com/...
Ours is a culture of performance through collaboration. Carlyle professionals work together seamlessly and selflessly across funds, industries and geographies to deliver the wisdom, knowledge and resources required to invest wisely and create value for our investors. We call our collaborative spirit One Carlyle.
Responsible Investment, Uhuh.
Environmental Stewardship; Community Volunteering; Wealth Sharing?
What?
While many Carlyle executives and employees are active in making their own personal contributions to charities, Carlyle has also established a firmwide program to encourage additional giving. Our Wealth Sharing Program supports Carlyle employees in their charitable giving by matching on a dollar-for-dollar basis up to $2,000 per year for contributions made to educational and humanitarian organizations. The program allows us to act in concert with employees to give back to society. The goal of the program is to foster the One Carlyle spirit by supporting the charitable activities of Carlyle professionals.
Wooh! All these noble sentiments.
I am quite overcome.