On March 24, 2015, The Carlyle Group announced that it had agreed to acquire a majority stake in Conifer Financial Services LLC, an independent asset services firm.
The transaction is expected to close in the second quarter of 2015, subject to customary closing requirements and regulatory approvals.
Capital for Carlyle’s investment will come from Carlyle Global Financial Services Partners II, L.P., which invests in management buyouts, growth capital opportunities and strategic minority investments in financial services firms globally.
Conifer Financial Services has more than 200 clients worldwide representing more than $100 billion of combined assets under administration.
The Carlyle Group is a global alternative asset manager with $194 billion of assets under management across 128 funds and 142 fund of funds vehicle as of December 31, 2014.
Terms of the transaction were not disclosed.
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