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Carlyle to Buy Investor in Hedge Funds

NYT – The Carlyle Group said on Tuesday that it would acquire the Diversified Global Asset Management Corporation, an independent hedge fund manager, the latest push by Carlyle into areas beyond its core leveraged-buyout business.

Carlyle will pay $33 million upfront and up to $70 million over the next seven years, depending on performance, according to a filing the company made with the Securities and Exchange Commission.

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