Carlyle Group is the last of the private-equity giants to settle civil charges that it colluded with rivals on tens of billions of dollars worth of deals.
The New York Post reports that the Washington, DC-based firm, led by David Rubenstein, agreed over the weekend to pay $115 million to settle the federal court case brought by shareholders in the target companies.
Seven PE firms agreed not to step into a rival’s takeout deal, thus cheating the shareholders out of possible robust bidding and a higher takeover price, the suit alleged.
Carlyle, Goldman Sachs, KKR, Bain Capital, Silver Lake Partners, Blackstone Group and TPG Capital neither admitted nor denied guilt.
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