The Carlyle Group Inc. Stock Price, News & Analysis

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.

AlphaStruxure has secured a contract to design and operate a microgrid for the New Terminal One (NTO) at JFK Airport, enabling significant decarbonization efforts. This 11.34 megawatt microgrid will feature the largest rooftop solar array on any U.S. airport terminal, consisting of over 13,000 solar panels, generating enough electricity to power approximately 3,570 homes annually. The project will reduce greenhouse gas emissions by 38% compared to traditional energy sources. Expected to create over 10,000 jobs, the terminal aims for completion by 2030 and is projected to set new standards in energy resilience and sustainability.

Pathalys Pharma has successfully raised $150 million through secured product financing and equity to support its phase 3 clinical trials for upacicalcet, designed for treating secondary hyperparathyroidism in dialysis patients. The financing was led by Abingworth with participation from Carlyle and OrbiMed. This funding will ensure Pathalys can proceed with pivotal studies and pre-commercialization activities. The partnership with Launch Therapeutics aims to leverage their clinical expertise, as they take lead roles in clinical trials while Pathalys manages manufacturing and regulatory interactions.

Involta has announced the promotion of Carl Gordulic to Chief Financial Officer, effective January 17, 2023. Gordulic, a seasoned finance professional with over 25 years of experience, played a vital role in facilitating Involta's acquisition by Carlyle (NASDAQ: CG) in 2022. This leadership change aims to enhance Involta's growth strategy and manage the funds resulting from the Carlyle investment. Gordulic, who has held various positions within Involta for the past 15 years, is expected to drive the company's expansion in 2023 and beyond.

Vertical Capital Income Fund (NYSE: VCIF) announced a transaction agreement with Carlyle (NASDAQ: CG) to appoint Carlyle Global Credit Investment Management as its new investment adviser, pending shareholder approval. This shift aims to enhance value by focusing on collateralized loan obligations (CLOs). Carlyle will make a one-time payment of $10 million to shareholders and commit $50 million in equity investments. The Board unanimously supports this move, believing it aligns with strategic goals for maximizing shareholder returns. The transaction is expected to close in H1 2023, subject to necessary approvals.

Jagex, the publisher of RuneScape, has acquired Gamepires, an independent game studio known for the survival game SCUM, which has sold over 3 million copies since its 2018 launch. This acquisition aims to leverage Jagex's expertise and community-driven approach to enhance SCUM's future multi-platform release. With the backing of Jagex, Gamepires seeks to elevate SCUM to a leading open world title. The financial terms of the acquisition remain undisclosed.

Veritas Capital has successfully acquired Sequa Corporation, the parent company of Chromalloy, from Carlyle, marking a strategic move in the aerospace sector. Chromalloy is renowned for its aftermarket services for aircraft engines and gas turbines, boasting over 70 years of expertise. This partnership aims to leverage Veritas's experience in both commercial and military aerospace markets to enhance Chromalloy's growth and expand its proprietary LifeX® solutions. The deal reflects a commitment to continued investment in critical engine technology globally.

NineDot Energy has secured an $85 million construction-to-term debt facility funded by CIT and SMBC to enhance eleven battery storage sites in the New York City metro area. This financing bolsters NineDot's position as a community energy developer, aiding the local grid and supporting New York's decarbonization efforts. The funding will accelerate the development of local battery storage solutions, improving energy reliability and transitioning away from outdated peaker plants. This milestone is noted as a significant achievement for the company.