Carlyle Co-Founders To Sell Some Shares

Mar 4 2014 | 11:01am 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.


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