NEW YORK Oct 2 Carlyle Group LP said on
Tuesday it would buy a majority stake in a commodities-trading
hedge fund manager, its biggest leap yet in an expansion that
has seen it diversify from private equity into other alternative
Carlyle, which has $156 billion of assets under management,
said it bought a 55 percent stake in Vermillion Asset Management
LLC, a New York-based commodities investment manager with about
$2.2 billion of assets under management.
Vermillion trades on agricultural products, metals, energy
and staples such coffee, sugar and cocoa beans. Carlyle said it
acquired a stake in Vermillion in exchange for cash, an
ownership interest in Carlyle and performance-based contingent
payments payable over five-and-a-quarter years.