Carlyle Can’t Get Out of the Private Equity Box

The company’s efforts to move beyond buyouts fall short

Thirty miles south of London, residents of Tunbridge Wells are unhappy with Carlyle Group. In 2011 the private equity firm, along with property company Bellhouse Joseph, bought a dilapidated movie theater and failed to develop the site. The theater was demolished, and now the lot sits empty, surrounded by blue construction barriers. “It just looks awful,” says Ben Chapelard, a member of the local government. “If you stand on the street asking people to pressure Carlyle to do something, you collect a signature every 20 seconds.”

To continue reading this article you must be a Bloomberg Professional Service Subscriber.