NEW YORK — The likely liquidation of Carlyle Capital Corp.’s remaining assets sent the fund’s shares plummeting more than 90 percent Thursday and rattled stock markets around the globe. It was also a high-profile setback for private equity fund Carlyle Group.
Carlyle Capital said late Wednesday that it expected creditors to seize all of the fund’s remaining assets _ investment-grade mortgage-backed securities _ after unsuccessful negotiations to prevent its liquidation.
Its shares, which went public at $19 a share in July and traded at $12 just last week, tumbled 93.6 percent to 18 cents on the Euronext exchange. Continue reading »