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The Carlyle Group Inc. reports developments as a global investment firm that deploys private capital through Global Private Equity, Global Credit, and Carlyle AlpInvest. Company news commonly covers financial results, fee-related earnings, fundraising, inflows, distributable earnings, shareholder updates, capital allocation, and share repurchase activity.
Carlyle updates also include partnerships that broaden private-market access for wealth and retirement channels, activity involving private equity, credit, real estate, and infrastructure strategies, and financing or transaction developments tied to its investment platform and portfolio companies.
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Carlyle (NASDAQ: CG) has appointed Sharda Cherwoo, a former senior partner at Ernst & Young, as an independent director effective June 1, 2023. With nearly 40 years of experience, Cherwoo brings expertise in private equity, financial services, and digital transformation. She led EY's Intelligent Automation strategy and has a successful track record in building businesses. Carlyle’s board will now consist of 13 members. CEO Harvey Schwartz highlighted her contributions to the firm’s growth strategy, while co-founders expressed confidence in her innovative thinking. Cherwoo aims to strengthen Carlyle's brand and contribute to its ongoing transformation.
Net Health announced that its PointRight® solution has received two endorsements from the National Quality Forum (NQF). The endorsed measures, PointRight® Pro 30® and PointRight® Pro Long Stay™, are used by nursing facilities nationwide to enhance hospitalization outcomes. Unique in the LTPAC EHR sector, these measures are integral to various state nursing facility value-based purchasing programs. This endorsement underscores Net Health's commitment to delivering accurate analytics and facilitating improved healthcare performance, aligning payers and providers for better clinical outcomes.
ETC Group has announced the acquisition of Amadys, a provider of connectivity solutions in the Benelux, UK, and DACH regions. This strategic acquisition aims to enhance ETC's product offerings and expand its customer base, following its recent purchase of BTV Multimedia. The financial details remain undisclosed. Amadys, established in 1993, serves over 1,000 clients and has a strong commitment to sustainability. Both companies anticipate synergies that will support increased demand for high-speed connectivity. The transaction awaits customary regulatory approvals.
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Accelerate Learning, a key player in K-12 STEM curriculum, has received a strategic investment from Providence Equity Partners, enhancing its growth potential in the education sector. Existing investors, including Carlyle (NASDAQ: CG), Quad Partners, Rice University, and Owl Ventures, will maintain minority stakes. The specific financial terms are undisclosed. Founded in 2013, Accelerate Learning's solutions promote problem-solving and critical thinking among students, reaching over 9 million students and 750,000 teachers nationwide. The company aims to leverage Providence's expertise to further enhance learning outcomes in STEM education.
Carlyle (NASDAQ: CG) has announced the granting of two inducement equity awards to new CEO Harvey M. Schwartz as part of his employment agreement dated February 5, 2023. The performance-based restricted stock units (PSU Award) cover 4,730,617 shares, with performance hurdles linked to stock price and total shareholder return, vesting over five years. Additionally, the restricted stock units (RSU Award) covering 2,031,602 shares vest in four installments from 2024 to 2027. Both awards include termination-related provisions for involuntary termination without cause or good reason. Carlyle manages $373 billion in assets across Global Private Equity, Global Credit, and Global Investment Solutions.
PCF Insurance Services, a leading U.S. insurance brokerage, secured a $500 million preferred equity investment, co-led by Carlyle Global Credit and HGGC. The firm's valuation stands at $4.7 billion, supported by 10% organic growth and revenues reaching $700 million in 2022. Since its management-led buyout in November 2021, PCF completed over 100 partner transactions. The investment is aimed at enhancing growth amidst economic uncertainty, leveraging a client-centric model and extensive employee expertise.
Carlyle (NASDAQ: CG) has appointed Harvey M. Schwartz as its new Chief Executive Officer, effective February 15, 2023. Schwartz, who previously served as President and Co-COO at Goldman Sachs, brings over 35 years of industry experience. He will focus on executing Carlyle's diversification strategy and exploring new investment opportunities to enhance shareholder value. Bill Conway, who has acted as Interim CEO, will continue as Co-Chairman. Carlyle aims to leverage Schwartz's leadership to capitalize on future market opportunities, promising a commitment to long-term value creation for investors.
Traxys, a key player in the metals and natural resources trading sector, announced a significant ownership change involving management, Optiver, and an investment group led by Regent Mercantile Holdings. They will acquire interests held by Carlyle and Louis M. Bacon. This deal, expected to close in May 2023, aims to enhance Traxys' capacity in the raw materials market catering to the growing demand from the EV and Battery Storage sectors. The transaction reflects a strategy to leverage Traxys' market expertise combined with Optiver's financial strength.