Carlyle Group, the US private-equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, has bought German nursing home operator Alloheim from Star Capital Partners, it has confirmed.
While the value of the deal was announced, London-based Star Capital bougth Dusseldorf-based Alloheim for €125m ($166m) in March 2008, Bloomberg said.
“The Alloheim management team has a long and successful track record in the health-care-services industry and an outstanding record of quality care and support,” Gregor Boehm, managing director at Carlyle, said in the statement.
Earlier this month, Carlyle reported this week it had returned to profitability in the second quarter versus a year ago, but it struck a gloomy note on the outlook for private equity deals in the United States this year.
Carlyle said it had $49 billion of available capital for deals, or so-called “dry powder,” at the end of the quarter, including $20.1 billion in private equity and $9.2 billion in energy and real estate. But the Washington, DC-based company said it was struggling to find good private equity deals in the United States this year because of intensified competition.
“Right now, because a lot of people frankly hate Europe in terms of the way they think of investments in Europe, we actually see very good opportunities there,” said co-Chief Executive Bill Conway in a conference call with analysts.
“Even with that, I don’t expect that the European business will be able to invest as much as the United States business does,” said Conway, who founded Carlyle in 1987 together with David Rubenstein and Daniel D’Aniello.
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