Saturday, 30 August 2014
Last updated 22 hours ago
Sep 6 2011 | 1:01pm ET
The Carlyle Group has formally begun the initial public offering process after more than a year planning the project.
The Washington, D.C.-based private equity giant made its first filing for a public stock offering with the Securities and Exchange Commission today. The firm, which manages $153 billion, said it would seek to raise as much as $100 million.
Carlyle's IPO is likely to come during the first half of next year; given the SEC approval process it began today, it would be all but impossible for the firm to list before December.
As with most initial IPO filings, Carlyle's was short on details, and what details it did offer are likely to change. It did not said how much of the firm would be put on sale or indicate what sort of pricing it would seek, although in recent meetings with investment banks Carlyle has argued that it should be valued at least as much as its publicly-listed competitors, notably the Blackstone Group.
The firm also mulled bringing on a CEO to work alongside its three 60-plus founders, but abandoned that idea.
Carlyle said its economic net income for the first six months of the year was $770.2 million, down from more than $1 billion in the first half of last year. Total revenue for three of its four business units stood at about $1.8 billion.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...