Carlyle to buy firm that invests in hedge funds

Deal for Diversified Global Asset Management continues Carlyle's expansion from private equity

Tuesday 26 November 2013 at 15:19

Carlyle Group said it will acquire Diversified Global Asset Management, a Toronto-based investor in hedge funds, as the firm continues to expand from private equity.

The deal is valued at $33 million, plus a possible $70 million if the hedge-fund firm achieves a certain level of performance.