Carlyle To Acquire Diversified Global Asset Management

The Carlyle Group LP (NASDAQ:CG) is set to acquire Diversified Global Asset Management Corporation, a Toronto-based investor in hedge funds.

Diversified Global Asset Management is a global manager of hedge funds with over $6.7 billion in managed and advised assets.

Move towards non-private equity business

The Carlyle Group LP (NASDAQ:CG)’s recent announcement is an effort to expand from private equity. The alternative asset manager is a private-equity powerhouse, though until recently it hadn’t developed a big presence in other businesses. However, some of its rivals such as Blackstone Group run large...