Court Rules that The Carlyle Group Has No Liability in CCC Lawsuit
Washington, DC – Global alternative asset manager The Carlyle Group (NASDAQ:CG) today announced that it has prevailed in the litigation before the Royal Court of Guernsey involving the 2008 insolvency of Carlyle Capital Corporation Limited (CCC), an entity sponsored by Carlyle that invested primarily in AAA-rated residential mortgage-backed securities. The Guernsey trial court decided that Carlyle and Directors of CCC acted reasonably and appropriately in the management and governance of CCC. The suit was brought by CCC’s liquidators, and it is unclear whether the liquidators will elect to appeal the trial court decision.
Jeffrey Ferguson, Carlyle General Counsel, said, “We are pleased that the court confirmed that Carlyle and CCC Directors acted in a manner they believed to be in the best interests of CCC and its shareholders during the financial crisis. We are gratified by the Guernsey court’s decision, and we are deeply appreciative of the time and effort the court and its staff devoted to this case.”
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $170 billion of assets under management across 299 investment vehicles as of June 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.
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