The Carlyle Group gets closer to its public debut
Private equity giant The Carlyle Group has chosen to list on the Nasdaq, according to an amended IPO registration statement filed this evening.
Each of Carlyle’s publicly-traded peers trades on the NYSE, including The Blackstone Group (BX), Kohlberg Kravis Roberts & Co. (KKR) and Apollo Global Management (APO).
No word yet on why it chose Nasdaq — Carlyle is in a quiet period — although last February it hired Nasdaq’s chief financial officer Adena Friedman to serve in the same position. Some within Nasdaq apparently felt that gave the exchange a leg-up, while others thought Carlyle would choose the Big Board so as to avoid any appearance of favoritism.
Carlyle’s ticker symbol with be CG. It has not yet set terms for the offering, which is expected to occur later this year.
The Washington, D.C.-based firm reported $148 billion in assets under management. Within that, around 16% was for Global Market Strategies (i.e., hedge funds, etc.). It reports $770.2 million in economic net income (ENI) for the last six months of 2011, compared to $190.4 million in ENI for the year-earlier period. Total fee income for the 2011 period was nearly $447 million, while realized performance-based income was $495 million.
Carlyle also said that each of its three co-founders earned around $3.8 million last year. Friedman pocketed $2.1 million.
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