Carlyle Group LP said on Tuesday it would purchase a majority stake in a commodities-trading hedge fund manager, its biggest leap yet in an expansion that has seen it diversify from private equity into other alternative asset classes. Carlyle, which has $156 billion of assets under management, said it bought a 55 percent stake in Vermillion Asset Management LLC, a New York-based commodities investment manager with about $2.2 billion of assets under management.Vermillion trades on agricultural products, metals, energy and staples such coffee, sugar and cocoa beans. Carlyle said it acquired a stake in Vermillion in exchange for cash, an ownership interest in Carlyle and performance-based contingent payments payable over five-and-a-quarter years.
The Carlyle Group L.P. is a global alternative asset management firm. Shares of CG fell by 1.84% or $-0.48/share to $25.64. In the past year, the shares have traded as low as $20.00 and as high as $27.90. On average, 136648 shares of CG exchange hands on a given day and today's volume is recorded at 119774.
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