Carlyle Group LP’s three founders received at least $135 million each in 2012, almost all from dividends on their ownership stakes and distributions on personal investments made in Carlyle funds before the private- equity firm went public in May.
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.
William Conway, Daniel D’Aniello and David Rubenstein, who founded Carlyle Group LP in 1987, are sitting on stakes valued at $1.03 billion each as the world’s second-biggest private-equity firm goes public.