Private equity firm Carlyle Group is in talks with bidders, including Nippon Life Insurance and Mitsubishi UFJ Financial Group, about selling its stake in a Los Angeles-headquartered bond manager, write Sarah Krouse, Justin Baer and Miriam Gottfried for The Wall Street Journal.
Carlyle has been exploring the sale of at least part of its 60% stake in $200bn asset manager TCW Group for months. It bought the stake from Societe Generale in 2013.