The Carlyle Group Invests in CFGI, Provider of High-End Complex Accounting and Financial Consulting to Corporate CFOs, CAOs a...
March 01 2018 - 7:00AM
Global alternative asset manager The Carlyle Group (NASDAQ:CG)
today announced it has invested in Boston-based CFGI, a
national provider of high-end technical accounting and finance
advisory services to the office of the Chief Financial Officer.
CFGI currently serves more than 500 national and international
clients, with offices in Boston, New York, Philadelphia and San
Francisco. Equity for the investment came from Carlyle Global
Financial Services Partners III (CGFSP III) and CFGI management.
CGFSP III is Carlyle’s third dedicated financial services fund and
this transaction represents the fund’s first investment.
CFGI Co-CEOs Nick Nardone and Shane Caiazzo said, “CFGI was
founded 17 years ago to serve CFOs as an independent advisor to
help with their most complex accounting and transaction-based
needs. Our success has resulted from a world-class team of former
Big 4 accountants that brings the technical accounting, operational
and capital market skills needed across all phases of a company’s
lifecycle. We are proud to partner with Carlyle and excited for the
elevated relationships and resources that we expect to come with
the Carlyle global network and the ability to leverage this
platform. Our focus for the firm is to aggressively work each and
every day to become the go-to partner for all CFOs, CAOs, and
Controllers across the nation.”
John Redett, Carlyle Managing Director and Co-head of the Global
Financial Services team, said, “The Partners of CFGI have built a
world-class accounting and finance consultancy firm that is a
trusted partner to CFOs of the Fortune 1000 and private companies.
Increasingly complex regulation is driving demand for the type of
independent technical expertise, advice and resources that CFGI
provides. We look forward to supporting CFGI’s continued expansion
into new geographies and product lines, while seeking to leverage
the One Carlyle global network.”
CFGI offers a comprehensive suite of services and supports a
diverse client base. Service offerings include: technical
accounting consultation, IT risk management and Sarbanes Oxley,
interim senior finance and accounting roles, corporate tax, and
independent valuation. Clients occupy a range of industry sectors,
including: biotech & life science, tech & software, pharma
& healthcare, media, consumer services, energy, retail,
entertainment, insurance, banking & financial services and
industrial & manufacturing.
Representative projects for CFGI include: IPO readiness;
carve-outs & divestitures; purchase accounting &
transaction support; implementation of new accounting standards;
revenue recognition & lease accounting; external audit
readiness & support; system implementation, interim accounting
and finance management solutions; financial planning &
analysis; Sarbanes Oxley implementations & support; IT &
risk advisory; corporate income tax reporting & consulting;
corporate income tax compliance; enterprise-wide valuations and
portfolio valuations.
Previous financial services investments made by the Carlyle
Global Financial Services Partners team include: Duff & Phelps,
TCW Group, Edgewood Partners Insurance Center (EPIC), Sandler
O’Neill & Partners, BenefitMall, DBRS, JenCap Holdings,
BankUnited and Bank of Butterfield, amongst others.
Wachtell, Lipton, Rosen & Katz served as Carlyle’s legal
advisor, and Duff & Phelps served as Carlyle’s financial,
accounting and tax advisors. Robert W. Baird & Co. and Stifel,
Nicolaus & Company, Incorporated served as financial advisors
to CFGI, and Nelson Mullins Riley & Scarborough LLP and
Kirkland & Ellis LLP served as CFGI’s legal advisors.
About CFGICFGI is a unique and highly
specialized financial consulting firm that is strategically
positioned to help companies through a range of routine and complex
business scenarios. As an extension of your corporate finance team,
CFGI works alongside your internal staff, serving in a variety of
roles – from technical accounting advisor to M&A support to
Controller or CFO – and delivering seamless support services. To
learn more, visit www.cfgi.com.
About The Carlyle GroupThe Carlyle Group
(NASDAQ:CG) is a global alternative asset manager with $195 billion
of assets under management across 317 investment vehicles as of
December 31, 2017. Carlyle’s purpose is to invest wisely and create
value on behalf of its investors, many of whom are public pensions.
Carlyle invests across four segments – Corporate Private Equity,
Real Assets, Global Credit and Investment Solutions – in Africa,
Asia, Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial, real
estate, technology & business services, telecommunications
& media and transportation. The Carlyle Group employs more than
1,600 people in 31 offices across six continents.
Web: www.carlyle.com Videos:
http://www.carlyle.com/media-room/corporate-videos Tweets:
www.twitter.com/onecarlyle Podcasts:
www.carlyle.com/about-carlyle/market-commentary
Contacts:
The Carlyle GroupElizabeth
Gill+1-202-729-5385elizabeth.gill@carlyle.com
CFGIShane T. Caiazzo scaiazzo@cfgi.com
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