Carlyle acted without a licence: NIG

DUBAI - A Kuwaiti company suing the Carlyle Group over a $25 million investment that went bad is now accusing the private equity firm of marketing the deal without a licence as it seeks to have its case heard in Kuwaiti courts.

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Mon 27 Aug 2012, 10:17 PM

Last updated: Tue 7 Apr 2015, 2:34 PM

The latest claim by Kuwait’s National Industries Group, or NIG, adds a new twist to its more than 2-1/2-year legal challenge to Carlyle, and could complicate the American company’s relationships with other wealthy Mideast investors.

NIG’s lawsuit focuses on a Carlyle investment fund that was one of the earliest casualties of the financial crisis when it collapsed in 2008.

The fund has been the subject of multiple lawsuits against Washington-based Carlyle.

In a motion filed this month with a Delaware court hearing the case, NIG argues that the dispute should be heard in Kuwait because Carlyle lacked the legal basis to pitch the deal there in the first place.

More news from