Carlyle’s revenue rose 1.7 percent to $2.85 billion last year, according to a regulatory filing dated March 14. Net income fell 11 percent to $1.36 billion from a year earlier.
Carlyle Group LP is eyeing a market valuation of $7.5 billion to $8 billion in an initial public offering (IPO), as the US private equity firm prepares to kick off a marketing blitz to investors, perhaps as soon as next week, said a source with knowledge of the situation.
Carlyle, which has $147 billion in assets under management, plans to sell a 10 per cent stake to raise $750 million to $800 million in the IPO, the source told Reuters on Tuesday.
The firm had said in a regulatory filing earlier this month that it might sell a 10 percent stake but its expectation on market value was not previously known.
Carlyle’s owners, unlike Oaktree’s, have no plans to sell stock in the IPO, a person briefed on the plans said earlier yesterday. The owners paid themselves a $398.5 million dividend in December 2010, nine months before the firm filed to go public, by borrowing $500 million from Mubadala. Carlyle repaid the remaining balance to Mubadala last month, refinancing it with new debt, according to a regulatory filing. The firm’s three founders earned a combined $413 million last year, mainly from distributions.
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