Sept. 29, 2015 8:05 a.m. ET
A Carlyle Group CG -1.91 % LP fund will take a 51% stake in London-based PA Consulting Group, a deal that the consulting firm said gives it a value of $1 billion.
PA said the Carlyle investment will allow it to speed up its growth plan via small acquisitions and geographic expansion. PA specializes in sectors such as energy, financial services, life sciences and health care.
Midmarket buyout fund Carlyle Europe Partners IV will be making the investment, its fifth in a European company.
The deal, which will need to clear regulatory and pension approvals as well as a shareholder vote in November, is expected to close in December.
Carlyle in July said its second-quarter profit jumped 55% as it reaped gains from selling stakes in companies while it made fewer new investments.
Write to Nathan Becker at nathan.becker@wsj.com
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