Carlyle Group To Buy Diversified Global Asset Management Corporation

(RTTNews) - The Carlyle Group (CG) announced it has agreed to acquire Diversified Global Asset Management Corporation, a global manager of hedge funds with more than $6.7 billion in managed and advised assets. Carlyle Group said the equity for the deal will come from its balance sheet.

Global Asset Management Corporation, or DGAM is an independent alternative investment manager and advisor based in Toronto, Canada. DGAM's client base is 100% institutional and includes some of the largest and most sophisticated public and private pension funds, endowments and sovereign wealth funds from around the world.

DGAM will become Carlyle's fund of hedge funds platform, and George Main and Warren Wright will continue in their roles as CEO and CIO, respectively, managing investments and the day-to-day operations of DGAM.