Carlyle Gets Heartburn Over Hedge Fund Adventurism
The illustrious Carlyle Group LP announced a retreat in the world of hedge funds, as they plan on winding down its hedge fund-of-funds subsidiary Diversified Global Asset Management (DGAM), a Toronto-based firm. DGAM’s co-founders George Main and Warren Wright will exit after the closing of the unit. DGAM had around US$ 2.3 billion in assets under management as of April 30, 2015. Carlyle acquired DGAM in February 2014 for US$ 31.1 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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