On August 30, 2011, The Carlyle Group announced that it has made a minority investment in Houston-based asset manager Avalon Advisors LLC.
On August 30, 2011, The Carlyle Group announced that it has made a minority investment in Avalon Advisors LLC. Avalon is Houston, Texas-based wealth advisor and asset manager with approximately $4 billion in assets under management. The Carlyle Group is a global alternative asset manager with approximately $153 billion of assets under management. Carlyle Global Financial Services Partners, a $1.1 billion fund which focuses on financial services companies, provided equity for the investment. Silver Lane Advisors served as financial advisor to Avalon. Financial terms of the transaction, which closed late last week, were not disclosed.
To read the press release, please click here.