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Carlyle’s $600m Blue Wave hedge fund to wind down01/08/2008. Source: AltAssets. 
 Carlyle-Blue Wave Partners Management, the multi-strategy hedge fund programme backed by private equity giant The Carlyle Group, has gone into voluntary liquidation. Once all positions have been liquidated the Carlyle Multi-Strategy Partners funds will be closed.
Blue Wave was launched in April of last year by two former Deutsche Bank executives, Rick Goldsmith and Ralph Reynolds. Carlyle owns a minority stake in Blue Wave.
‘The funds launched in a challenging market and have not been able to achieve the critical mass of assets under management necessary to support a multi-strategy fund infrastructure,’ Carlyle said in a statement.
Earlier this year, Carlyle's $22bn mortgage-backed securities fund, Carlyle Capital Corporation, had to wind down.
With $82.7bn of assets under management, Carlyle invests in buy-outs, venture and growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America.
Carlyle just completed the acquisition of a majority stake in Booz Allen Hamilton’s US government consulting business for $2.54bn.
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