Carlyle switches into single fund game


Only months after deciding to exit the fund of funds business, Carlyle, the $16 billion Washington-based private equity giant, is in the early stages of building a single manager hedge fund operation, which it sees as offering better margins.

Although the firm didn't want to say too much about its hedge fund platform, it has confirmed that it is looking to build a single manager business. It is thought that it will include a range of equity, arbitrage and possibly macro funds.

This would involve buying in considerable manager expertise but follows the route that is being tried by rival