The Carlyle Group told investors that the value of its stake in HD Supply, previously owned by The Home Depot, has fallen by 15% amid the ongoing financial crisis and weakened home-building sector.
Group, one of the three private equity firms that spent $8.5 billion acquiring
theHome Depotlast year, told its investors that its share in the building materials
distributor is worth only about 85 cents on the dollar, according to aWashington
in the Washington, D.C.-based equity player should not expect any cash
distributions in the near future, as the ongoing financial crisis drives the
value of companies down.
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Carlyle Group Downgrades Stake In HD Supply
November 10, 2008