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

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR