Carlyle acquires 55% stake in Vermillion

Carlyle Group, the second-largest buyout company, said yesterday it had bought commodities hedge-fund manager Vermillion Asset Management, adding $2.2bn in commodities assets as the firm expands beyond private equity. Carlyle purchased 55% of Vermillion for a mix of cash, stock and performance-based payouts, effective October 1. Vermillion will be part of Carlyle’s global market strategies business, headed by Mitch Petrick.