The Carlyle Group acquired The TCW Group, a transaction completed in February 2013, structured as Majority acquisition alongside TCW management (management ~40%); undisclosed terms.
The TCW Group operates in Global Market Strategies (fixed-income asset management), is based in Los Angeles, California, USA. Carlyle and TCW's management team acquired the Los Angeles-based fixed-income asset manager The TCW Group from France's Societe Generale. The deal lifted TCW management and employee ownership to roughly 40% on a fully diluted basis, with equity coming from Carlyle Global Financial Services Partners and Carlyle Partners V. Financial terms were not disclosed. Carlyle later exited TCW, selling its interest to management and Nippon Life.
Add a large traditional fixed-income asset manager to Carlyle's platform and expand its global market strategies footprint.
Advisory firms were not disclosed for this transaction.