The Carlyle Group, a $56 billion private equity colossus, lans to launch a $1 billion hedge fund, unnamed company insiders told The Wall Street Journal and Reuters. The Journal reported the launch would take place next month, but the Reuters story refuted that date. Insiders say the fund, the first in the buy-out firm’s Carlyle-Blue Wave hedge fund unit, is called Carlyle Multi-Strategy and has been trading with internal money for two weeks. The Journal reported that public records in the U.K. show that a London-based offshoot of the Carlyle-Blue Wave Partners Management was incorporated three weeks ago. The Carlyle Group already operated 48 funds, divided among buy-outs, venture capital, real estate and leveraged finance. The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.    

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