Carlyle Group is acquiring a 55% stake in hedge fund manager, Emerging Sovereign Group (ESG), The Wall Street Journal reports. The financial details of the transaction have not been disclosed.
As a part of the deal, ESG will receive cash, an ownership interest in Carlyle and performance-based payments, which will be reinvested in ESG funds. On the transaction, which is expected to be completed by July 1, Gleacher and Seward & Kissel were financial and legal advisers to ESG.
