The ESG principals will reinvest a majority of the initial cash proceeds from the transaction into the ESG funds. Financial terms of the transaction were not disclosed.
ESG was established in 2002 by Kevin Kenny with an initial investment from Julian Robertson through Tiger Management.
Today, ESG has four emerging markets equities and macroeconomic strategies. Tiger Management will maintain a significant investment in the ESG funds and an ownership interest in ESG post-closing.
Kevin Kenny will continue as chief investment officer and manage the day-to-day operations, all investment decisions and portfolio construction, said Carlyle.
Gleacher & Company and Seward & Kissel served as financial and legal advisors to ESG, respectively. Simpson Thacher & Bartlett served as legal advisor to Carlyle.
