The Carlyle Group

Jeff Currie, Chief Strategy Officer of Energy Pathways at Carlyle, joined CNBC's #MoneyMovers with Sara Eisen and Carl Quintanilla to discuss the macroeconomic dynamics affecting global oil and US money markets. In his interview, Jeff outlined his hypothesis around the “oil carry trade unwind,” summarized as follows: ➡️ The crude oil market has a carry trade where borrowing physical and financial barrels facilitates lending into US money markets, just like the Yen carry trade, which recently saw a sharp unwind. ➡️ The Fed has kept rates high to offset a US economy supported by a large budget deficit, but these rates are too high for the rest of the world. OPEC, seeking to support and stabilize crude oil prices, therefore matches lower production to weak ex-US demand. ➡️ This resulting feedback loop has facilitated the oil carry, and also explains some seeming paradoxes in the market, such as tight fundamentals and weak financials. ➡️ A turn in US rates will break this loop, likely leading to an unwind in the oil carry trade, a recovery in global crude oil demand, and space for OPEC to raise production. Watch Jeff’s interview here: http://spr.ly/6048mXagI

It’s a buyers’ market according to Chris Perriello, Global Head of Secondaries. Chris recently spoke with Rod James at The Wall Street Journal Pro Private Equity to discuss the #secondaries market's performance, especially as stable interest rates and firmer pricing have surged demand. Chris noted that he and the team at The Carlyle Group “believe we can drive what we’re going to transact on as opposed to reacting to what’s for sale,” adding that buyers also had power to shape the structure of deals and whether payment can be all upfront or deferred. Read the full story: http://spr.ly/6048l0t2n

Today, Carlyle announced that it has agreed to acquire WORLDPAC, a leading North American distributor of aftermarket replacement automotive parts, from Advance Auto Parts Inc. for $1.5 billion. Carlyle's investment in Worldpac builds on the firm's extensive carve-out experience in the #Industrials sector, having invested ~$13 billion in industrial carve-outs over the past two decades, including in such companies as Axalta, Nouryon, Atotech, Signode, and Allison Transmission. Read more here: http://spr.ly/6045lFGjd

Today we announced that Carlyle has agreed to invest in SEIDOR, a leading technology services and solutions consultancy based in Spain. Fernando Chueca, Partner in the CETP investment advisory team, said: “This transaction is an attractive opportunity to support a Spanish leader in the digital transformation sector. We believe that SEIDOR has a strong competitive position in key markets like Spain, as well as significant growth potential in other major European economies and North America. Through our partnership, we intend to support SEIDOR’s development into a global technology champion competing in the world’s highest value software markets, delivering value for all its current and future stakeholders.” Read more: http://spr.ly/6045lWGO7

Uncommon, a Carlyle portfolio company, is an imaginative provider of flexible workspace environments in London. The Uncommon brand is focused on #sustainability, answering the demand for more socially and environmentally conscious places to work, and serves as a tool to drive occupancy and engage members. By looking to drive positive impact on both climate and people, Uncommon is at the forefront of creating sustainability-led workspaces. Uncommon CEO Chris Davies and Managing Director Magda Al-Nugaidi spoke to our Co-Head of Global Sustainability, Katharina Neureiter, about their flagship location in Holborn and the impact of Carlyle’s investment. Watch below and read the case study here: http://spr.ly/6042lKLhi

Today, Carlyle announced that in partnership with Atmas Health it will acquire Baxter International Inc.’s Kidney Care segment, Vantive – a leader in global kidney care with a strong growing business and market-leading franchises. We are delighted to partner with Vantive to support their strategic vision through the separation from Baxter and transformation into a standalone global business. In September 2022, Carlyle’s Global Healthcare team, in partnership with long-time #healthcare executives Kieran T. Gallahue, Jim Hinrichs, and James Prutow, formed Atmas Health with a focus on acquiring and building a market-leading healthcare business. We look forward to supporting the growth of Vantive’s business and building upon their track record of patient-focused innovation. Together we aim to create long-term value in this next phase of Vantive’s development. Ream more: https://lnkd.in/e7w7_Rhf

In this month’s #podcast episode, Shane Clifford, Carlyle’s Head of Global Wealth, joins Jason Thomas for a discussion about the growing democratization of alternative investments, and what’s fueling this trend among individual investors. 🎧 Listen to Insights & Indicators: http://spr.ly/6042YS2mI

Today, Carlyle announced that it has agreed to sell Cogentrix Energy to Quantum Capital. Cogentrix is a premier U.S. independent power producer with a platform comprised of efficient and flexible natural gas-fired power plants, which support the reliability, resiliency, and affordability of the U.S. electricity market. During our period of ownership, Carlyle supported Cogentrix’s efforts to establish decarbonization objectives for its fleet of natural gas-fired power generation assets while continuing to support grid reliability—a critical balance required to effectuate the #EnergyTransition. The exit of our investment in Cogentrix is an example of our deep sector expertise within our #Energy and #Infrastructure platform. We look forward to continuing our investment activities in this rapidly growing area, including partnering with our management teams on growth opportunities and deploying capital in new investments. Read more: http://spr.ly/6042YPTNe

Today we reported our Q2 2024 financial results, which reflect strong momentum across our business and a steadily improving market environment. View the earnings presentation and important information regarding forward-looking statements and a reconciliation of non-GAAP financial measures to the corresponding GAAP measures here: http://spr.ly/6049YP3yP Join our investor conference call at 8:30am ET here: http://spr.ly/6042YP3yr

Jason Thomas, Head of Global Research & Investment Strategy, joined Bloomberg to discuss his macroeconomic outlook following this week’s Federal Reserve meeting. When speaking about risk premia, Jason noted, “This all suggests that you have a public market that is priced for perfection to a large extent. Going forward, if we have some unfortunate, unforeseen developments in the economy, the Fed, with base rates of 5.3% has a lot of firepower and could do a lot to stabilize economic activity.” Watch the full interview: http://spr.ly/6047YEdp9