Bush family private equity fund in deep trouble as Financial Tsunami rolls on
Carlyle Capital Corp. Ltd., a subsidiary of one of the most influential USA private equity funds and closely tied to the Bush family, is in default on several of its securities. Carlyle is an offshore subsidiary of the Washington-based Carlyle Group, one of the most politically powerful private equity firms of the past two decades. The severity of its liquidity problems indicates that the unfolding financial crisis is taking major parts of the US financial and political elite down with it. Among the leading partners of the Carlyle Group in recent years have been George H.W. Bush, father of the President; James Baker III, the Bush family’s attorney and ‘fixer;’ former UK Prime Minister John Major.
according to informed reports is that its entire portfolio, recently valued at $21 billion, could be sold off in a distress sale
Carlyle is by no means the only elite US private capital group in serious trouble.
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