Calpers plans to sell entire 4 percent stake in Carlyle

Reuters reports that the California Public Employees' Retirement System (Calpers) plans to sell its entire 4 percent stake in Carlyle Group LP (CG.O) as the U.S. public pension fund plans its exit from the private equity manager after 12 years.

The sale of the stake in Carlyle - valued at $373.3 million as of the end of stock market trading on Monday - comes 13 months after Carlyle's initial public offering. Its shares have risen 34 percent since then….

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