Carlyle Group to list in New York

More light likely to be shed on private equity giant with significant investments in Australian transport-related firms

September 7, 2011

Carlyle Group, the US-based private equity firm with truck and transport-related investments in Australia, is due to list in New York in the first half of next year.

The move will open the firm, which manages more than US$150 billion in assets and is often portrayed as secretive, to greater scrutiny.

Analysts regard Carlyle as seeking investments in stable markets and Australia fits that bill.

Last week, its Carlyle Infrastructure Partners (CIP) subsidiary gained 11.4 percent of
multimodal container
transport firm Qube Logistics, as part of a move expected to see CIP take a 15 percent stake for $116.5 million.

The move was part of a flurry of share purchases related to the normalisation of Qube’s operating structure and the buyout of joint ventures in return for stakes, including with Wilh. Wilhelmsen Holding Invest for 11 percent and Kawasaki (Australia) for 9 percent.

In a joint-venture with National Hire, Carlyle retains a 50 percent share in Coates Hire, which runs a rental fleet of Isuzu flat beds, of 2-4 tonnes, and tippers, of 1.7-7 tonnes.

In June, CIP and Macquarie Bank found their overture to traffic camera firm Redflex rejected.

Qube is not the only company seeing share action, with Lindsay Australia MD Michael Lindsay yesterday lifting his holding to 5 percent of the company.

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