About This Deal

The Carlyle Group acquired Emerging Sovereign Group (ESG), a transaction completed in July 2011, structured as 55% majority stake; cash, Carlyle equity and contingent payments.

Emerging Sovereign Group (ESG) operates in Global Market Strategies (emerging-markets hedge funds), is based in New York, New York, USA. Carlyle acquired a 55% stake in Emerging Sovereign Group, a New York manager focused on emerging-markets equities and macroeconomic strategies that was originally seeded by Julian Robertson's Tiger Management. Consideration was a mix of cash, an ownership interest in Carlyle, and performance-based contingent payments; specific terms were not disclosed. The purchase was part of Carlyle's push to build out hedge-fund strategies within Global Market Strategies. Carlyle later separated from ESG in the fourth quarter of 2016.

Add emerging-markets equity and macro hedge-fund capabilities to Carlyle's global market strategies platform.

Deal Terms

Acquirer
The Carlyle Group
Target
Emerging Sovereign Group (ESG)
Value
Not disclosed
Date
July 2011
Type
Acquisition
Status
Official-source — no SEC filing

Transaction Details

Target HQ
New York, New York, USA
Segment
Global Market Strategies (emerging-markets hedge funds)
Structure
55% majority stake; cash, Carlyle equity and contingent payments
Closed
July 1, 2011

Advisors

Advisory firms were not disclosed for this transaction.

Sources: Press release ↗ · SEC filing ↗

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