Carlyle Group Turns Focus From Hedge Funds to Lending
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David Rubenstein, left, and William E. Conway Jr. of Carlyle. Mr. Conway said hedge fund results did not meet expectations. CreditSimon Dawson/Bloomberg
Prominent public pension funds have turned their backs on hedge funds, and so have a few big insurance companies. Now, one of the world’s biggest private equity firms, the Carlyle Group, is walking away, too.
Carlyle told investors this week that it was pivoting away from its hedge fund investments, once worth $15 billion. Speaking to investors, the Carlyle co-founder William E. Conway Jr. said the firm’s performance in hedge funds did not meet the expectations of its investors. “And when our performance falls short, it is critical for both our fund investors and for the firm that we deal with the consequences,” Mr. Conway said…
Carlyle Group Turns Focus From Hedge Funds to Lending
