Thursday, October 16, 2008

Two More Bush's Could Soon Work for The Carlyle Group

President George H.W. and his son George W. worked for The Carlyle Group at one point in their storied careers. Forty one raised investment funds in the Middle East, an area where he was highly respected. Forty three served on the board of failed affiliate, CaterAir.

Brother Jeb and cousin George Herbert Walker IV could soon join their Presidential kin as employees of Carlyle. George H. Walker is global head of investment management, while Jeb consulted with the private equity division of Lehman Brothers. Lehman sold Florida investments that later defaulted. Jeb's role is in question, according to Forbes.

Hopefully, the pair will land on their feet, maybe even at Carlyle's doorstep. The Carlyle Group loves employing door opening politico's. They've challenged the sale of Neuberger Berman and other asset management portions of Lehman to Bain Capital/Hellman & Friedman. The bankruptcy court will hear the challenge.

Mr. Walker could use the work. He has a sizeable new mortgage, unless he paid cash:

Lehman's global head of investment management, George Herbert Walker IV, one of the president's cousins, paid $13.95 million for a townhouse at 6 East 10th Street in Greenwich Village.

Carlyle could soon hold a hand flush with four Bush's. A PEU could double down with those cards...

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