News & Analysis

Industry shrugs off Carlyle's pre-IPO payout

Multiple industry sources agree Carlyle owners did nothing unusual in using the proceeds from a $500m loan primarily to pay themselves, but some have questioned Carlyle’s public description of the borrowings in 2010.

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Carlyle’s use of borrowed money to distribute proceeds amongst its owners is not an uncommon – nor particularly sensational – event in the private equity world, according to multiple industry sources, including a number of private equity lawyers.  

Last week Carlyle was caught in the headlines when an amended S-1 IPO filing revealed its owners, which include founders David Rubenstein, Daniel D’Aniello and William Conway Jr, received a $398.5