Launches & Closures Hedge Funds

Carlyle Group begins liquidating Blue Wave


The Carlyle Group has begun liquidating its Blue Wave multistrategy hedge fund, which struggled to raise assets following a loss of 17% in 2007.

The private equity giant, the world’s second largest, launched Carlyle Blue Wave Partners in March 2007 with about $900 million in assets and held a minority stake in the hedge fund firm.

“Though the funds’ equity-focused share class is up more than two percent in 2008, thereby beating the S&P 500 by nearly 14 percentage points, the funds launched in a challenging market and have not been able to achieve the critical mass of