Big but modest: Carlyle's ADT Caps $1.3 billion exit

Carlyle is successfully exiting its investment in ADT Caps after three years in charge of the South Korean security services provider. The rate of return achieved, though, is relatively underwhelming.

In a joint statement on Tuesday, SK Telecom and Macquarie said they were buying ADT Caps for W1.28 trillion $1.2 billion.

Beating off competition from rival bidders CVC Capital Partners, Singapore’s GIC, and Canada’s Brookfield Asset Management, South Korea’s largest telecom services provider said it will acquire a 55% stake in ADT Caps for W702 billion. Its Australian partner is buying the remaining 45% interest for W574 billion...