Saturday, 20 December 2014
Last updated 18 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.