I'm kidding, of course. As you may have heard, Carlyle is considering buying a stake in a hedge fund manager and is in talks with multiple firms, in addition to looking to raise "two new debt funds and a $1 billion pool to buy small companies." The units would be overseen by Mitch Petrick, who joined the firm in March from Morgan Stanley. Presumably, there are at least a few people who are amped about Petrick's potential stewardship, while others are, how to put this, less than thrilled.
"Petrick was in charge of institutional trading at Morgan Stanley. MS's sales & trading operation lost substantial ground relative to Goldman on this guy's watch (when he came on they were neck and neck). He was responsible for them taking a billion dollar loss on Revel Casino. Petrick approved all of the bridge loans MS got impaled on in 2007-2009. Every single one of them. Txu. Fdc. Het. You name it. So Revel showed his expertise as an investor and his LBO record speaks for itself. Carlyle probably hired him because he sold his former firm out to them and their horrible deals that decimated shareholder value. This Carlyle fund is going to be Old Lane the third. Zoe Cruz's Voras is Old Lane the second."