The Carlyle Group acquired Emerging Sovereign Group (ESG), a transaction completed in July 2011, structured as 55% majority stake; cash, Carlyle equity and contingent payments.
Emerging Sovereign Group (ESG) operates in Global Market Strategies (emerging-markets hedge funds), is based in New York, New York, USA. Carlyle acquired a 55% stake in Emerging Sovereign Group, a New York manager focused on emerging-markets equities and macroeconomic strategies that was originally seeded by Julian Robertson's Tiger Management. Consideration was a mix of cash, an ownership interest in Carlyle, and performance-based contingent payments; specific terms were not disclosed. The purchase was part of Carlyle's push to build out hedge-fund strategies within Global Market Strategies. Carlyle later separated from ESG in the fourth quarter of 2016.
Add emerging-markets equity and macro hedge-fund capabilities to Carlyle's global market strategies platform.
Advisory firms were not disclosed for this transaction.