Carlyle Group LP’s partners are reaching into their wallets to bail out one of the private- equity firm’s first investments in Brazil, seeking to protect its growing business in South America’s biggest economy.
Seven years after selling shares to the public at the height of the buyout boom and then watching them slump, Stephen Schwarzman’s Blackstone Group LP is rewarding investors with the top gains among money managers.
Carlyle Group LP agreed to buy Tyco International Ltd.’s fire and security business in South Korea for $1.93 billion, the country’s largest private-equity buyout deal in U.S. dollar value in more than five years.
Carlyle Group LP’s founders received $92.9 million each last year in pay and cash dividends, an increase of 61 percent from 2012, as the firm took advantage of rising equity markets to sell shares in companies.
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.
William Conway , the deal maker who helped build Carlyle Group into the world’s second-biggest private-equity firm, said the company is gearing up for a public share sale to amass permanent capital and contend with the growing challenge of raising money for buyout funds.
Oxford University’s investment chief attacked private-equity funds’ charges, saying firms such as Carlyle Group LP are more interested in collecting fees for managing money than generating top returns for their backers.
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.