Carlyle Capital Corporation said Monday it had requested a standstill agreement with its lenders after some of them liquidated almost a quarter of the Amsterdam-listed fund’s $21bn of RMBS. The Carlyle Group’s ill-judged foray into the public markets to launch CCC, a heavily-leveraged fund that invested in top-rated mortgage securities, is hanging in balance after it received $400m more margin calls from lenders. CCC’s implosion, caused by the sudden drop in the value of securities issued by US government-backed lenders Fannie Mae and Freddie Mac, threatens the reputation of Carlyle, one of the world’s biggest buy-out groups.

This entry was posted by Gwen Robinson on Tuesday, March 11th, 2008 at 5:36 and is filed under Capital markets. Tagged with ccc. Edit this entry.