Private equity investors will play an important role in the historic bailout just announced by congressional leaders, and there’s money to be made, according to David M. Rubenstein, co-founder of the Carlyle Group.
The Carlyle Group is one of the wealthiest and most successful private-equity firms in the world, with around $80 billion under management, $40 billion of which is in cash that is ready to be deployed, according to an article in the Washington Post online.
Rubenstein was quoted as saying “Private equity has a lot of experience buying assets at distressed prices and we expect to see a lot of attractively priced assets. It’s good that private-equity firms are in good shape and have the resources to buy some of these assets and help the system.”
Carlyle is looking to hire Wall Street private equity specialists and other financial professionals who have been orphaned by the recent turmoil, to help the firm pursue opportunities generated by the bailout and with other distressed financial properties. According to Rubenstein, Carlyle will “be on the hunt for the next 18 months” for qualified professionals looking for jobs in private equity.
Alternative energy and other clean technologies are already the third largest sector for venture capital investment and jobs in the U.S., after information technology and biotech, according to an article in the Boston Globe online. The article cites a new United Nations report that says clean technologies such as biofuels will create millions of new jobs in the next two decades. The report states that roughly 2.3 million people have found new jobs in the renewable energy sector in recent years, and the potential for job growth in the sector is enormous.
In addition, firms such as Och-Ziff Capital Management, GLG Partners, GAM, ABN Amro, Ermitage Group, PCM Capital and Akeida Capital Management have launched funds to exploit opportunities in the alternative energy space, according to FINalternatives.com
Giant private equity group Kohlberg Kravis Roberts (KKR) has announced it is expanding its presence in the Middle East, hiring Makram Azar from Lehman Brothers to head the new venture, according to the National, in UAE. KKR has reportedly committed 1.5 billion Euros (US $2,162,000,000) to focus on oil and gas investments in the region, as well as co-investing around the world with sovereign wealth funds. The move underscores the growing importance of the Middle East a promising region for private equity and venture capital investments and jobs.
