The mysterious private equity firm Carlyle Group which made a cool three hundred million quid on Qinetiq shares, and which has former PM Sir John Major as European chairman, is apparently trying to save its affiliate, Carlyle Capital, from bankruptcy.
Apparently the banks which put up $22 billion for Carlyle to buy mortgages with, are now asking for their money back.
Trading in Carlyle capital shares has been suspended, and the company is said to be in default on its loans.
A Citigroup analyst says Carlyle could be ‘forced into significant asset sales or face bankruptcy.’
Carlyle co-founder David Rubenstein told the recent Davos World Economic Forum that the private equity industry had passed through its golden age and is now in its ‘purgatory age’.
Hopefully Sir John's conscience does not require purging. It is not known what Major does for his reputed six figure salary, because Carlyle keeps very quiet about its activities though, some years back, the veil of secrecy was lifted when a Seoul-based employee had to resign for emailing colleagues that he intended to ‘fuck every hot chick in Korea’.
Surely our former ‘back to basics’ PM isn’t engaged in that kind of thing.
But he does, of course, like a Currie.
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Comments (1)
Hehe. I like this kind of stuff, it shows how everyone in every job is human.
Course it sucks for the poor blokes who do this sort of imprudent thing, who here can truly cast the first stone? Who has never drunkenly clicked send without noticing that you accidentally added everyone in your address book to the cc?
XD
Posted by SophiaAM | March 12, 2008 5:40 AM
Posted on March 12, 2008 05:40