The top 10 dealmakers at publicly traded private-equity firms took home at least $1.7 billion in dividends in 2013 as they seized on rallying stock markets to sell stakes in everything from a Chinese insurer to a U.S. theme-park operator to a French floormaker.
As Carlyle Group LP’s management fanned out across the globe over the past two weeks to pitch its initial stock sale, the man whose business is critical to the firm’s success as a public company was at his desk in New York.
Carlyle Group, pressing ahead with plans for an initial public offering, is meeting privately with analysts to convince them the buyout firm is worth at least as much as its most richly valued competitor, Blackstone Group LP.
Carlyle Group LP is seeking to raise as much as $762.5 million in an initial public offering that would give the Washington-based private-equity firm less than half the market value of Blackstone Group LP.
Carlyle Group LP, in a transaction nine months before it filed to go public, saddled itself with debt to pay owners including William Conway, Daniel D’Aniello and David Rubenstein a $398.5 million tax-deferred dividend.