Bloomberg – Carlyle Group agreed to buy a 55 percent stake in Tiger Management LLC-backed Emerging Sovereign Group LLC, which oversees $1.6 billion in assets, its second purchase of a hedge-fund manager in six months.
ESG’s principals, including Kevin Kenny, the founder, will receive an undisclosed amount of cash, a stake in Carlyle and payments contingent on performance, the companies said today. Tiger Management, headed by Chief Executive Officer Julian Robertson, will keep its shares of New York-based ESG, which focuses on emerging markets, and its stakes in the firm’s funds.
