Thursday, December 10, 2015

More Vultures Circling: Carlyle Sniffing at Energy

Still early.
From Business Insider:

BILLIONAIRE INVESTOR: 'The greatest energy investing opportunities we've ever seen'
The energy sector is about to throw up a once-in-a-lifetime investment opportunity.

That is according to David Rubenstein, the billionaire cofounder and co-CEO of the alternatives giant Carlyle Group.

"Maybe the greatest energy investing opportunities we've ever seen" lie ahead, Rubenstein said December 9 at the Goldman Sachs Financial Services Conference in New York.
"Distressed debt is very popular right now."

Carlyle has a series of funds dedicated to energy deals with more than $10 billion in dry powder, according to Rubenstein.

He thinks Carlyle has done a good job of biding its time, and said prices still haven't reached a bottom. West Texas Intermediate crude oil dropped below $37 a barrel on Tuesday....MORE
"Energy Sector Default Rate to Hit 11% in 2016"