A prominent Kuwaiti conglomerate is suing the Carlyle Group in a local court, alleging that the US buy-out firm misrepresented the safety of its affiliate, Carlyle Capital Corp, a public debt fund that collapsed in March 2008. The conglomerate, National Industries Group, invested $50m in CCC, which was marketed to investors in other Carlyle funds as a safe fund that would focus on triple A mortgage-backed securities.  CCC raised about $600m from investors privately and an additional $340m when it listed.

This entry was posted by Gwen Robinson on Tuesday, December 1st, 2009 at 4:27 and is filed under Capital markets, Private equity. Tagged with carlyle, National Industries. Edit this entry.