In this, his last work, he studied the dehumanizing aspects of a corporate buyout.
Much of that money was then invested in the fund gradually over many years, the Carlyle executive said, as new opportunities for corporate buyouts emerged.
The asset-backed market is also a source of financing for corporate buyouts and mergers, analysts said.
The announcement of the largest leveraged corporate buyout in history sent stocks on a rally early in the day.
The investment firm, which specializes in corporate buyouts, offered $90 a share, or $20.43 billion.
He was bought out of his contract for 12 million pounds, reportedly the largest corporate buyout in UK history at the time.
The buyout was the third largest corporate buyout since 1989.
Smith's success owes much to the stream of failed corporate buyouts.
But the current changeover has more in common with a corporate buyout than a violent vendetta.
California has some 900 wineries, and clearly most are not looking for corporate buyouts.