Carlyle Co-Founders To Sell Some Shares

Mar 4 2014 | 10:01am ET

Two of Carlyle Group’s founders, and the firm itself, are selling shares in a secondary offering, two years after Carlyle went public.

William Conway and Daniel D’Aniello will sell a combined 7.5 million shares. Carlyle will sell a further 4.5 million shares, at $36.27 apiece, the stock’s closing price on Friday.

Conway, D’Aniello and David Rubenstein did not sell any shares in Carlyle’s 2012 IPO and have refrained from doing so until now. Rubenstein is not participating in the offering and will become Carlyle’s largest shareholder, albeit by a small margin: Conway and D’Aniello are reducing their holdings only fractionally.

It is unclear what Conway and D’Aniello plan to do with the money, although the two have a total of $474.5 million in unfunded commitments to Carlyle’s funds. Carlyle will use its proceeds for corporate purposes.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note