It's been fairly slow for private equity deal makers lately. So what to do? How about spend $21.3 million for the Magna Carta?
Well, that's what Carlyle's co-founder, David Rubenstein, did yesterday at Sotheby's.
Actually, Rubenstein is a political junkie. That is, he served in President Carter's White House (as deputy domestic policy advisor). His political savvy has been a nice complement to his deal making.
Of course, the Magna Carta is an amazing document, which helped to spark revolutions, such as free speech and even capitalism.
The good news is that Rubenstein isn't going to have the document as an ornament for his office. Instead, he plans to lend it to the National Archives.
The prior owner was the outspoken billionaire, Ross Perot, who purchase the document in 1983 for a mere $1.5 million.
Tom Taulli is the author of various books, including The Complete M&A Handbook
