Hedge Funds

Carlyle Group accelerates push into hedge funds


Carlyle Group, the private equity giant, is finally preparing to roll out its long-planned hedge fund effort. The firm is reportedly close to hiring Ralph Reynolds, global head of proprietary grading at Deutsche Bank, to head up the platform.

Carlyle's leveraged finance team already manages a credit opportunity fund. But the firm has, since early 2005, expressed a desire to branch into other hedge fund strategies. That wish was reiterated by founder and managing director David Rubenstein in February this year.

Carlyle is in good company. Other private equity behemoths like The Blackstone Group, Bain Capital and Texas Pacific