Monday, April 22, 2013

Who Are Addison Lee's New Owners?

The Carlyle Group
An American-based global asset management firm, specializing in private equity, based in Washington, D.C. The Carlyle Group operates in four business areas: corporate private equity, real assets, market strategies and fund of funds, through its AlpInvest subsidiary. In its 2010 annual report, Carlyle reported assets in excess of $150 billion under management diversified over 84 distinct funds. The firm employs more than 890 employees, including 495 investment professionals, in 20 countries with offices in the Americas, Europe, Asia, and Australia, and its portfolio companies employ more than 415,000 people worldwide. The firm has over 1,300 investment partners in 71 countries.

According to a 2011 ranking called the PEI 300 based on capital raised over the last five years, Carlyle was ranked as the third largest private equity firm in the world, after TPG Capital and Goldman Sachs Principal Investment Area. Carlyle had been ranked first in the 2007 listing.

In 2010, the Financial Times announced that Carlyle Group is the private equity firm of the year.

Carlyle has been profiled in two notable documentaries, Michael Moore's Fahrenheit 911 and William Karel's The World According to Bush.

In Fahrenheit 911, Moore makes nine allegations concerning the Carlyle Group, including: That the Bin Laden and Bush families were both connected to the Group; that following the attacks on September 11, the bin Laden family’s investments in the Carlyle Group became an embarrassment to the Carlyle Group and the family was forced to liquidate their assets with the firm; that the Carlyle group was, in essence, the 11th largest defense contractor in the United States. Moore focused on Carlyle's connections with George H. W. Bush and his Secretary of State James A. Baker III, both of whom had at times served as advisers to the firm.

A Carlyle spokesman noted in 2003 that its 7% interest in defense industries was far less than several other Private equity firms. Carlyle also has provided detail on its links with the Bin Laden family, specifically the relatively minor investments by an estranged half brother.

In his documentary The World According to Bush (May 2004), William Karel interviewed Frank Carlucci to discuss the presence of Shafiq bin Laden, Osama bin Laden's estranged brother, at Carlyle's annual investor conference while the September 11 attacks were occurring.

The Iron Triangle also talks about links with the Bin Laden family; the documentatry makes claims that Carlyle bought political favor to get investment dollars and arms sales to the middle east.



Dyno Saws said...

Now we have a massive firm with thousands of times the assets of any player in the taxi trade.

Remember the Law Commissin has recommended National Standards for PH so ADDLee could buy up every minicab outfit in the south of England. They will then have the clout to ensure that even more work comes their way and that work is YOURS!

Ask YOUR trade organisation what they submitted to the Law Commission and was the above National Standards for PH commented on?

I am afraid to say some never even submitted anything!

Anonymous said...

I'm sure Carlyle Group group would have wanted assurances that TFL the Inland Revenue,Police and the Low Pay Commission would continue sitting on their hands as any of these could make their investment worthless


Anonymous said...

quite prophetic

Anonymous said...

Who cares just be cab driver and not a policeman