Carlyle Reportedly To Settle Buyout Conspiracy Case For $115 Mln

(RTTNews) - Global alternative asset manager Carlyle Group L.P. (CG) has agreed to pay $115 million to settle a collusion case, which accused the company for conspiring with other private-equity firms to not to bid against one another in eight corporate takeovers that happened during the mid-2000s, according to media reports. The decision comes ahead of a major hearing on the lawsuit, next week, in Boston. According to the reports, Carlyle is the last among the seven defendants to settle the seven-year-old case and has said to have agreed to pay the amount without admitting any wrongdoing. In a lawsuit filed by a group of plaintiffs in December 2007, private equity firms including Carlyle Group were accused of colluding to bring down prices on corporate buyouts. Earlier this month, Blackstone Group LP (BX), KKR & Co. (KKR) and TPG Capital LP collectively agreed to pay $325 million to settle the collusion lawsuit. Two other plaintiffs, Goldman Sachs Group Inc. (GS) and Bain Capital LLC, in June agreed to settle for $67 million and $54 million, respectively, according to court filings.

While some firms, such as Apollo Global Management (APO) LLC and Providence Equity Partners LLC, were dismissed from the case by a federal judge, seven, including Carlyle, struck settlement agreements, the Wall Street Journal reported. In all, the firms have agreed to pay the plaintiffs about $600 million and the next step in the case will likely be a hearing to consider the settlements, the report stated, citing person familiar with the lawsuit.