Carlyle Avoids $1 Billion Payout Tied to 2008 Bond Fund Collapse
A woman walks past the building that houses the Carlyle Group LP headquarters in Washington, D.C., U.S., on Wednesday, April 11, 2012.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Carlyle Group LP was exonerated in a lawsuit tied to the collapse of a mortgage fund from 2008, avoiding $1 billion in damages sought by the pool’s liquidators.
Billionaire Chief Investment Officer Bill Conway and other Carlyle entities acted in the best interests of Carlyle Capital Corp. during the 2008 financial crisis and the fund’s insolvency was due to an unforeseen liquidity crunch, the Royal Court of Guernsey ruled Monday.