The Carlyle Group acquired Claren Road Asset Management for $255.3M for 55%, a transaction completed in December 2010, structured as 55% majority stake; cash plus promissory notes.
Claren Road Asset Management operates in Global Market Strategies (credit / hedge funds), is based in New York, New York, USA. Carlyle bought a 55% majority stake in Claren Road, a New York long/short credit hedge-fund manager, to broaden the credit and hedge-fund offerings inside its Global Market Strategies business. The deal was one of a series of hedge-fund platform purchases Carlyle made in the early 2010s to diversify beyond traditional private equity. Carlyle later unwound the position, transferring its ownership back to Claren Road's founders in a transaction that closed in January 2017.
Expand credit and hedge-fund product offerings within Carlyle's global market strategies business.
Advisory firms were not disclosed for this transaction.