Carlyle to Register 264 Million Units Held by ExecutivesMiles Weiss
Carlyle Group LP, the world’s second-largest private-equity firm by assets, filed to register almost 264 million common units that could be issued to company executives in the future, according to a regulatory filing.
Current and former members of management own 263.9 million units in a private company called Carlyle Holdings that they will soon be able to exchange for shares in the publicly traded partnership, the Washington-based firm said in a filing today with the U.S. Securities and Exchange Commission.
Carlyle raised about $671 million through an initial public offering in May and now has about 43.2 million common units that are publicly traded. Under the terms of the IPO, executives can begin to exchange their closely held units for publicly traded units next month. Such exchanges are subject to the expiration of vesting requirements and the release of other transfer restrictions.
Today’s filing “addresses legal requirements related to our IPO,” Chris Ullman, Carlyle’s spokesman, said in an e-mailed statement. “None of these holders is selling any units at this time as a result of this filing.”
The firm’s three co-founders, William Conway, Daniel D’Aniello, and David Rubenstein, each own 46.9 million units in the private Carlyle Holdings.
Carlyle sold 30.5 million common units through last May’s IPO at $22 each. Carlyle rose 19 cents to close at $31.99 in Nasdaq Stock Market trading.