Carlyle, based in Washington, started a team dedicated to financial services in June 2007 and, after turnover and leadership changes, hired Olivier Sarkozy in 2008 from Swiss bank UBS AG to head it. The group also includes former Wachovia Corp. treasurer James Burr.
Sarkozy and his team are seeking $2 billion for a new fund to follow the inaugural one that completed raising capital in 2010, according to a presentation viewed by Bloomberg News. The fund is seeking to take advantage of turmoil in the European financial-services industry, regulatory changes and emerging- markets opportunities.
'Additional Adjustment'
Societe Generale "will record a limited additional adjustment in the goodwill value, depending on the final closing conditions," Nathalie Boschat, a spokeswoman in Paris, said yesterday by telephone. She declined to give further details on the financial terms of the deal.
The transaction, expected to close during the first quarter of 2013, will increase Societe Generale's core capital ratio under Basel III rules by 13 basis points, the company estimated in a separate statement. Societe Generale is targeting a core Tier 1 ratio under Basel III standards of between 9 percent and 9.5 percent by the end of 2013. Disposing of businesses can provide an "additional capital buffer," the bank has said.