According to financialspots, President Obama has appointed Carlyle Group partner Jerome Powell to serve on the Federal Reserve Board of Governors. Powell was undersecretary for finance under the George H. W. Bush presidency.
One of the largest defense contractors in the world, Carlyle includes among its ranks some of the most influential Washington, D. C. policymakers and shakers culled from the last five administrations: both Bush presidents, ex-Sec. of State James Baker III, ex-Sec. of Defense Frank Carlucci, former Clinton Chief of Staff Mack McLarty, and one time SEC Chairman Arthur Levitt.
Other investors of note are the bin Laden family and the Saudi Arabia royal family. In 2007, Mubadala, a wholly owned investment arm of the Abu Dhabi government, bought a 7.5 percent share of the Carlyle Group.
As MHProNews posted Oct. 15, 2013, the Carlyle Group entered the manufactured housing community (MHC) business by acquiring two communities in Florida from Shamrock Holdings LLC of Arizona for $30.8 million.
More recently, Carlyle acquired Sunnyvale, California’s Plaza del Rey MHC, a 722 home site for an estimated $180 million. As MHProNews reported Feb. 11, 2016, Carlyle, one of the largest private equity firms in the world with some $190 billion assets under management, invested $42 million in Pacific Skies Estates MHC overlooking the Pacific Ocean. The firm intends to upgrade the 93 home site community with all new MH that will then be rented. ##
(Image credit: arabianbusiness)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.