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CARLYLE GROUP TO PAY $20M FINE

Private equity firm The Carlyle Group yesterday agreed to pay a $20m (&pound;13.3m) fine, and to sign a strict code of conduct to resolve its role in an investigation into alleged corruption involving New York&rsquo;s largest public pension fund. Carlyle, an $85.5bn private equity firm, will be the first buy-out firm to pay a fine as a result of a two-year investigation by New York&rsquo;s attorney-general, Andrew Cuomo. It will also be the first to adopt Mr Cuomo&rsquo;s code of conduct, which was written for public pension funds.&nbsp;<br /><br />