CARLYLE GROUP TO PAY $20M FINE
Private equity firm The Carlyle Group yesterday agreed to pay a $20m (£13.3m) fine, and to sign a strict code of conduct to resolve its role in an investigation into alleged corruption involving New York’s largest public pension fund. Carlyle, an $85.5bn private equity firm, will be the first buy-out firm to pay a fine as a result of a two-year investigation by New York’s attorney-general, Andrew Cuomo. It will also be the first to adopt Mr Cuomo’s code of conduct, which was written for public pension funds.