Carlyle Group

Historical Timeline

• 1987 — Founded by David Rubenstein, Bill Conway, and Dan D'Aniello
• 1990s — Early focus on U.S. buyouts in aerospace and defense
• 1998 — Opens first international office in London
• 2012 — Goes public on NASDAQ ($575M IPO)
• 2018 — Kewsong Lee becomes CEO
• 2023 — AUM reaches $400B+ across all strategies

Business Model

Alternative asset management: Global Private Equity, Global Credit, Global Infrastructure, and Global Real Estate. Revenue from management fees, performance fees, and advisory fees.

Competitive Moat

Political connections and government advisory expertise give unique access to deals in regulated industries. Deep global network across 30+ countries and 40+ years of deal-making.

Key Data

AUM: $400B+ (2023); Founded: 1987; HQ: Washington, D.C.; Ticker: CG (NASDAQ)

Interesting Facts

Carlyle earned the nickname 'the firm with the most friends in Washington.' Former U.S. President George H.W. Bush was a Carlyle advisor and investor in the firm's Asian fund.