Carlyle Group LP is offering 7 million common units, planning to
use the proceeds to buy partnership units from sellers including
certain board members and executives of the private-equity
firm.
A news release and a securities filing Monday didn't contain
specifics about selling unit holders, but the filing noted that the
company and certain holders may sell units from time to time.
Carlyle co-founders co-Chief Executive William Conway and
Chairman Daniel D'Aniello sold some of their holdings as part of a
larger offering in 2014, marking the first time any Carlyle
employees reduced stakes after the firm's May 2012 initial public
offering.
Carlyle was part of a wave of buyout firms going public. These
firms operated as closely held partnerships for most of their
existence. Going public in recent years enabled founders and other
top executives who had amassed big stakes to cash out of the
businesses.
In the years after Blackstone Group LP's 2007 IPO, Apollo Global
Management LLC, KKR & Co. and Oaktree Capital were among the
firms debuting on public markets.
In April, Carlyle said its first-quarter profit rose 60% as the
firm sold older investments into rising markets for big gains but
saw challenges putting money to work in new deals.
Carlyle units were down 2% to $30.35 in late trading.
Write to Josh Beckerman at josh.beckerman@wsj.com
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