The Carlyle Group (CG) Splits with Vermillion Commodity Fund Following Severe Drop in Assets

Carlyle Group (Nasdaq: CG) is said to have parted ways with Vermillion Asset Management LLC’s Viridian commodity fund following severe underperformance.

The WSJ said that Vermillion's commodity fund saw its assets drop from $2 billion to less than $50 million ahead of the split. The fund was said to have lost 23 percent last year alone.

Carlyle bought a majority stake in Vermillion in 2005 and the assets were sold at the end of last month.

Drops in prices for nat gas, coal, iron, and oil were leading factors in Vermillion's performance.

Notably, crude and nat gas are both lower on Friday's session.

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