COMPANIES Carlyle, the US private equity firm, is pledging to stop using placement agents to solicit money from public pension funds following the indictment of a New York state political figure to whom it paid $12m in finder’s fees.
The change in policy represents the latest fallout from an investigation by the Securities and Exchange Commission and New York’s attorney-general into alleged kickbacks paid to secure money from New York’s $105bn Common Retirement Fund.
