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Private equity powerhouse Carlyle expands into commodities
October 3, 2012 / 1:10 AM / in 5 years

Private equity powerhouse Carlyle expands into commodities

NEW YORK, Oct 2 (Reuters) - 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 asset classes.

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.

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