June 29, 2004

Just The Facts, Man...

A couple of people wanted to know where I had found the George Soros/Carlyle group connection. My bad for not listing the links. To be honest, I first found it on various web pages listing biographies of both Soros and Carlyle. As some of these might seem questionable, or biased, I though I would pass along some more accepted sources. I'm getting these from LexisNexis, so I don't have the direct links.

From The Times (London), May 9, 2003, "Group remains guarded about funds' returns," Tom Bawden:

Private equity firms make their money by borrowing from wealthy individuals and institutions and channelling the proceeds into a range of investments. In Carlyle's case, high net worth backers include Bakr bin Laden and George Soros.

From The New York Times, April 28, 2000, "A New Managing Director at Carlyle Group," Bloomberg News:

Carlyle is expanding its staff as it prepares to raise its second United States venture capital fund later this year, probably raising $750 million to $1 billion. Its first fund, Carlyle Venture Partners I, was $250 million, which included $40 million from the billionaire George Soros.

NOTE: Soros is NOT the managing director mentioned in the headline.

From an abstract for The Wall Street Journal, September 27, 1993, "CARLYLE GROUP'S FUND GET STAKE FROM GEORGE SOROS," Christi Harlan:
International money manager George Soros will invest $100 million for a $500 million investment fund being formed by the Carlyle Group, a merchant banking firm

And from The Washington Post, December 8, 1993, "Soros Pledges $ 100 Million In Carlyle Fund," Brett D. Fromsom:

Billionaire investor George Soros has agreed to invest $ 100 million in a new buyout fund to be managed by the Carlyle Group, a Washington-based investment firm, according to sources familiar with the deal....Soros has invested $ 25 million to $ 50 million in Carlyle deals in the past four to five months, according to the sources.

You can also find some good info on Carlyle here:
As the company's reputation grew, so did its cast of players. Among its new backers were James Baker and Richard Darman (both Reagan and Bush administration alums) and investor George Soros, who chipped in some $100 million into the Carlyle Partners L.P. buyout fund. With the help of its 'access capitalists' such as Baker and Saudi Prince al-Waleed bin Talal (whom the firm helped add to his fortune in a 1991 Citicorp stock transaction), Carlyle made deals in the Middle East and Western Europe (including a bailout of Euro Disney) in the mid-1990s.

NOTE: That last one illustates a Carlyle/Disney connection, and since Carlyle also now owns a chunk of Loews, you have to admit that among those who have benefitted from Carlyle and the Bin Ladens and the Saudi royals is Michael Moore. And, unless he plans to give up ALL profits, I would say he also benefits from the war in Iraq, since that seems to be a driving issue in the film.

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