Private equity megagroup Carlyle Group, of private equity fame, is making its maiden sortie into the world of hedge funds, reports the Wall Street Journal. The buyout firm intends to launch a $1bn multi-strategy fund – called Carlyle Multi-Strategy – next month, people familiar with the matter told the Journal.
The move by Carlyle is the latest instance of a growing trend among among private equity houses to diversify their interests. One source told the WSJ that that fund opened up shop a fortnight ago using internal funds, while UK filings show a London-based unit of Carlyle -Blue Wave Partners Management LP – was incorporated a week before that.
Carlyle is also making moves to beef up the assets at its leveraged finance operations. People familiar with the matter – are they the same ones? – say it is eyeing a float of a $1bn fund in Amsterdam investing in bank loans, mortgages and other fixed income securities.