UPDATE: Credit Suisse Initiates Outperform, $37 PT on Carlyle Group on Diversity of Assets, Global Footprint

Credit Suisse initiates its coverage on Carlyle Group CG with a Buy rating and a price target of $37. Credit Suisse notes, "With the firm's deep roots in corporate private equity, Carlyle has amassed top-tier investment returns (31% realized gross IRR), a broad global franchise (operations in 20 countries) and premier fund raising capabilities ($120+ billion raised since inception) over its twenty-five year history. Coupled with the strong secular trends underpinning alternative investing, we view Carlyle as well positioned to drive eaningful value creation for LPs and unitholders." CG closed at $21.42 on Monday.