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The Carlyle Group and TCW Management Complete TCW Acquisition

  The Carlyle Group and TCW Management Complete TCW Acquisition

            TCW Management and Employees Will Own 40% of the Firm

Business Wire

WASHINGTON & LOS ANGELES -- February 6, 2013

Global alternative asset manager The Carlyle Group (NASDAQ: CG), and the
management of The TCW Group, a global asset management firm, today announced
the completion of their acquisition of TCW from Société Générale, creating an
independent firm. As a result of the transaction, TCW management and employees
will own approximately 40% of the firm on a fully diluted basis. Financial
terms of the transaction were not disclosed.

As previously announced, equity for the investment came from two Carlyle
investment funds and from TCW management. The funds are Carlyle Global
Financial Services Partners, a $1.1 billion financial services fund, and
Carlyle Partners V, a $13.7 billion U.S. buyout fund.

“This is an exciting day in TCW’s 42-year history,” said TCW President and CEO
David Lippman. “To date, our success has been powered by the tradition of
investment excellence instilled in the firm by our founder Robert Day. As we
transition to a freestanding company, I also thank Société Générale for all of
the support they have given us over the years as a terrific parent company. We
now move forward with another supportive partner in Carlyle, increased
employee ownership, and the alignment of interests. I look forward to a bright
future.”

Marc Stern, Chairman of the TCW Board, added, “The closing of the transaction
with Carlyle officially opens the next chapter in TCW’s evolution. Especially
gratifying to me is the expansion of employee ownership in the firm from
nothing in early 2010 to the significant percentage it is today. The unifying
effects of an ownership mentality, combined with resources, knowledge and
guidance from Carlyle will fuel TCW’s continued growth. Additionally, we have
already seen the fruits of David Lippman’s leadership with the closing of two
recent transactions in the alternatives area and his dynamic efforts to
position the firm for future success.”

“We are pleased to have completed this investment and started this
partnership,” added Olivier Sarkozy, Carlyle Managing Director and head of the
financial services team. “TCW is a solid and successful business built around
a strong franchise. This sentiment has only deepened over the past few months
as we have witnessed firsthand the professionalism and discipline of both the
executive management and investment teams. We are particularly pleased with
TCW’s fast-growing mutual fund complex, which has grown by more than 20% since
we first announced the transaction in August. We look forward to supporting
TCW and creating value.”

About The TCW Group
Founded in 1971, The TCW Group, Inc. develops and manages a broad range of
innovative, value-added investment products that strive to enhance and protect
clients’ wealth, with approximately $138 billion in assets under management as
of December 31, 2012. TCW clients include many of the largest corporate and
public pension plans, financial institutions, endowments and foundations in
the U.S., as well as a substantial number of foreign investors and high net
worth individuals. For more information, please refer to www.tcw.com.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $157
billion of assets under management across 101 funds and 64 fund of fund
vehicles as of September 30, 2012. Carlyle's purpose is to invest wisely and
create value on behalf of our investors, many of whom are public pensions.
Carlyle invests across four segments – Corporate Private Equity, Real Assets,
Global Market Strategies and Fund of Funds Solutions – in Africa, Asia,
Australia, Europe, the Middle East, North America and South America. Carlyle
has expertise in various industries, including: aerospace, defense &
government services, consumer & retail, energy, financial services,
healthcare, industrial, technology & business services, telecommunications &
media and transportation. The Carlyle Group employs 1,300 people in 32 offices
across six continents.
www.carlyle.com
www.youtube.com/onecarlyle
www.twitter.com/onecarlyle

Contact:

The Carlyle Group:
Liz Gill, +1 202-729-5385
Elizabeth.gill@carlyle.com
or
The TCW Group:
Peter Viles, +1 213-244-0509
Peter.Viles@tcw.com
 
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