WWD.com/business-news/financial/carlyle-group-files-for-100-million-ipo-5114320/
government-trade
government-trade

Carlyle Group Files for $100 Million IPO

Following its public offering, the private equity firm will join the ranks of competing buyout firms that have already gone the IPO route.

NEW YORK — Private equity firm The Carlyle Group, which has several holdings in the fashion world including Moncler, on Tuesday filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering.

The number of units offered and price range for the offering have not yet been determined. The firm said the proceeds would be used to repay indebtedness, and for general corporate purposes. While the filing listed an offering size of $100 million, sources earlier this summer said one later this year could approach $1 billion.

The current filing is merely an intention of the firm’s desire to go public. There is no guarantee that the IPO will happen by yearend — that will depend in large measure on the equity markets and receptivity to new IPOs.

A number of firms were scheduled for IPOs last month but were postponed due to the poor market conditions. According to RenaissanceCapital.com, there aren’t any IPOs scheduled for this month. Daily deals site Groupon, which had hoped to go public this month, has canceled its road show for prospective investors. Sources said the company is still planning on going public but is waiting until market conditions improve. A spokesman for Groupon declined comment.

After Carlyle actually goes public, it will join the ranks of competing buyout firms that have already gone the IPO route: Apollo Global Management, The Blackstone Group and Kohlberg Kravis Roberts & Co.

 

Carlyle was founded in 1987 and is based in Washington, D.C. The firm is known for its high-profile global network of former and current advisers. Former advisers include James Baker 3rd, former U.S. Secretary of State; George H.W. Bush, former U.S. president; Frank Carlucci, former U.S. Secretary of Defense, and Randal Quarles, former undersecretary of the Treasury.

Current advisers include Arthur Levitt, former chairman of the U.S. Securities and Exchange Commission; John Major, chairman of Carlyle Europe and former British Prime Minister, and Olivier Sarkozy, co-head of Carlyle’s global financial services division and the half-brother of French President Nicolas Sarkozy.

Carlyle has more than $150 billion under management across 86 funds, and has operations around the world. The firm’s retail and apparel holdings include Alliance Boots; Arabela Holding, a beauty and personal care firm in Mexico; Moncler SpA; Scalina, a hosiery and lingerie firm in Brazil; Shenzhen Ellassay Apparel, a vertical retailer in China, and Xtep (China) Co. Ltd., one of the largest fashion sportswear firms in China.