Wednesday, 30 July 2014
Last updated 2 hours ago
Jan 12 2012 | 12:34pm ET
The founders of the Carlyle Group split more than $413 million in compensation last year, the private equity giant revealed in a filing for its impending initial public offering.
William Conway, Daniel D'Aniello and David Rubenstein were paid $275,000 in salary each. Each man also took home a $3.5 million bonus—and a $134 million share of the firm's incentive fees, more than half of Carlyle's total performance fee income.
Each man also received tens of millions of dollars in distributions from their own investments in Carlyle's funds. D'Aniello received $77.6 million, Conway $70.9 million and Rubenstein $56.8 million. But they've also continued to invest even more, with Conway pouring $164 million into Carlyle funds last year, D'Aniello $98 million and Rubenstein $97 million. The three men have made further commitments totaling $490.7 million.
The filing also revealed that the $112.6 billion firm plans to list on the Nasdaq Stock Market, under the ticker symbol "CG."
Word of the Carlyle founder's huge payday comes amidst a strong period for Carlyle: It earned $589 million in economic net income during the first nine months of last year, and returned a record $15 billion to clients.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…