Carlyle Group Scorched by Mortgage Fund's Stumble

The collapse of the subprime- mortgage market has engulfed Carlyle Group, the world's second- biggest leveraged-buyout firm by assets.

Trading in Carlyle Capital Corp., the firm's mortgage-bond fund, was suspended in Amsterdam today after creditors forced the sale of some holdings. The fund expects to receive further margin calls, which could deplete its capital. The pool may now be liquidated and the stock rendered worthless, Bear Stearns Cos. analyst Keith Baird said in a note to clients today.

``This marks a further savage step in the ongoing credit implosion of recent months,'' Baird wrote.

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- Posted: 2008-03-07 09:32:47

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