The Carlyle Group is a multinational

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...

, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in

, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index, though by 2020, it had slipped into second place. Founded in 1987 in Washington, D.C., by

William E. Conway Jr. William E. "Bill" Conway Jr. (born August 27, 1949) is an American billionaire businessman, investor and philanthropist. Conway serves as Co-Executive Chairman of the Board, Founder of the Carlyle Group. He also serves as Chairman of the Board ...

Stephen L. Norris Stephen L. Norris is one of the co-founders of The Carlyle Group, an American private equity firm and previously the Chairman of Gulf Capital Partners. He is a former member of the Federal Retirement Thrift Investment Board, who was appointed by ...

David Rubenstein David Mark Rubenstein (born August 11, 1949) is an American billionaire businessman. A former government official and lawyer, he is a co-founder and co-chairman of the private equity firm The Carlyle Group,Daniel A. D'Aniello and Greg Rosenbaum, the company has nearly 1,850 employees in 26 offices on six continents . On May 3, 2012, Carlyle completed a million initial public offering and began trading on the NASDAQ stock exchange.

History

Founding and early history

Carlyle was founded in 1987 as an investment banking boutique by five partners with backgrounds in finance and government:

Carlyle Hotel The Carlyle Hotel, known formally as The Carlyle, A Rosewood Hotel, is a combination luxury apartment hotel located at 35 East 76th Street on the northeast corner of Madison Avenue and East 76th Street, on the Upper East Side of New York City. O ...

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

(named for Thomas Carlyle) where Norris and Rubenstein had planned the new investment business. Rubenstein, a Washington-based lawyer, had worked in the Carter Administration. Norris and D'Aneillo had worked together at Marriott Corporation; Conway was a finance executive at MCI Communications. Rosenbaum left in the first year and Norris departed in 1995. Rubenstein, Conway and D'Aneillo remain active in the business. Carlyle was founded with $5 million of financial backing from

T. Rowe Price T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial inter ...

, Alex. Brown & Sons, First Interstate Equities, and the Richard King Mellon family. In the late 1980s, Carlyle raised capital deal-by-deal to pursue leveraged buyout investments, including a failed takeover battle for Chi-Chi's. The firm raised its first dedicated buyout fund with $100 million of investor commitments in 1990. In its early years, Carlyle also advised in transactions including, in 1991, a $500 million investment in Citigroup by Prince Al-Waleed bin Talal, a member of the

Saudi royal family The House of Saud ( ar, آل سُعُود, ʾĀl Suʿūd ) is the ruling royal family of Saudi Arabia. It is composed of the descendants of Muhammad bin Saud, founder of the Emirate of Diriyah, known as the First Saudi state (1727–1818), ...

. Carlyle developed a reputation for acquiring businesses related to the defense industry. In 1992, Carlyle completed the acquisition of the Electronics division of General Dynamics Corporation, renamed GDE Systems, a producer of military electronics systems. Carlyle would sell the business to Tracor in October 1994. Carlyle acquired Magnavox Electronic Systems, the military communications and electronic-warfare systems segment of Magnavox, from Philips Electronics in 1993. Carlyle sold Magnavox for about $370 million to Hughes Aircraft Company in 1995. Carlyle also invested in Vought Aircraft through a partnership with

Northrop Grumman Northrop Grumman Corporation is an American multinational aerospace and defense technology company. With 90,000 employees and an annual revenue in excess of $30 billion, it is one of the world's largest weapons manufacturers and military tech ...

. Carlyle's most notable defense industry investment came in October 1997 with its acquisition of United Defense Industries. The $850 million acquisition of United Defense represented Carlyle's largest investment to that point. Carlyle completed an IPO of United Defense on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...

in December 2001, then sold the rest of the stock in April 2004. In more recent years, Carlyle has invested less in the defense industry. Carlyle's 2001 investor conference took place on September 11, 2001. In the weeks following the meeting, it was reported that Shafiq bin Laden, a member of the Bin Laden family, had been the "guest of honor", and that they were investors in Carlyle managed funds. Later reports confirmed that the Bin Laden family had invested $2 million into Carlyle's $1.3 billion Carlyle Partners II Fund in 1995, making the family relatively small investors with the firm. However, their overall investment might have been considerably larger, with the $2 million committed in 1995 only being an initial contribution that grew over time. These connections would later be profiled in Michael Moore's '' Fahrenheit 911''. The Bin Laden family liquidated its holdings in Carlyle's funds in October 2001, just after the September 11 attacks, when the connection of their family name to the Carlyle Group's name became impolitic.

2002–2006

Buyouts declined after the collapse of the

dot-com bubble The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Comp ...

in 2000 and 2001. But after the two-stage buyout of

Dex Media Thryv is a publicly traded software as a service (SaaS) company. It is headquartered in Dallas, Texas, and operates in 48 states across the United States of America with more than 2,400 employees. The company began as a conglomerate of Yellow ...

at the end of 2002 and 2003, large multibillion-dollar U.S. buyouts could once again obtain high-yield debt financing and larger transactions could be completed. Carlyle, together with Welsh, Carson, Anderson & Stowe, led a $7.5 billion buyout of QwestDex, the third-largest corporate buyout since 1989. QwestDex's purchase occurred in two stages: a $2.75 billion acquisition of assets known as Dex Media East in November 2002 and a $4.30 billion acquisition of assets known as Dex Media West in 2003. R. H. Donnelley Corporation acquired Dex Media in 2006. Shortly after Dex Media, other larger buyouts would be completed signaling a resurgence in private equity.

Lou Gerstner Louis Vincent "Lou" Gerstner Jr. (born March 1, 1942) is an American businessman, best known for his tenure as chairman of the board and chief executive officer of IBM from April 1993 until 2002, when he retired as CEO in March and chairman in ...

, former chairman and CEO of IBM and

Nabisco Nabisco (, abbreviated from the earlier name National Biscuit Company) is an American manufacturer of cookies and snacks headquartered in East Hanover, New Jersey. The company is a subsidiary of Illinois-based Mondelēz International. Nabisco' ...

, replaced Frank Carlucci as chairman of Carlyle in January 2003. Gerstner would serve in that position through October 2008. The hiring of Gerstner, was intended to reduce the perception of Carlyle as a politically dominated firm. At the time, Carlyle, which had been founded 15 years earlier had accumulated $13.9 billion of assets under management and had generated annualized returns for investors of 36%. Carlyle also announced the $1.6 billion acquisition of Hawaiian Telcom from

Verizon Verizon Communications Inc., commonly known as Verizon, is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average. The company is headquartered at 1095 Avenue of the Americas ...

in May 2004. Carlyle's investment was immediately challenged when Hawaii regulators delayed the closing of the buyout. The company also suffered billing and customer-service issues as it had to recreate its back-office systems. Hawaiian Telcom ultimately filed for bankruptcy in December 2008, costing Carlyle the $425 million it had invested in the company. Hertz car rental office Livonia Michigan

Hertz car rental office Livonia Michigan

As the activity of the large private equity firms increased in the mid-2000s, Carlyle kept pace with such competitors as

KKR KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strateg ...

, Blackstone Group, and TPG Capital. In 2005, Carlyle, together with Clayton, Dubilier & Rice and Merrill Lynch completed the $15.0 billion leveraged buyout of The Hertz Corporation, the largest car rental agency from Ford. The following year, in August 2006, Carlyle and its Riverstone Holdings affiliate partnered with

Goldman Sachs Capital Partners Goldman Sachs Capital Partners is the private equity arm of Goldman Sachs, focused on leveraged buyout and growth capital investments globally. The group, which is based in New York City, was founded in 1986. As of 2019, GS Capital Partners ...

in the $27.5 billion (including assumed debt) acquisition of Kinder Morgan, one of the largest pipeline operators in the US. The buyout was backed by

Richard Kinder Richard Kinder (born October 19, 1944) is an American businessman. He is the co-founder and executive chairman of Kinder Morgan Inc., an energy and pipeline corporation. Early life Richard Kinder was born in Cape Girardeau, Missouri, in 1944. ...

, the company's co-founder and a former president of Enron. In September 2006, Carlyle led a consortium, comprising Blackstone Group, Permira and TPG Capital, in the $17.6 billion takeover of

Freescale Semiconductor Freescale Semiconductor, Inc. was an American semiconductor manufacturer. It was created by the divestiture of the Semiconductor Products Sector of Motorola in 2004. Freescale focused their integrated circuit products on the automotive, em ...

. At the time of its announcement, Freescale would be the largest leveraged buyout of a technology company ever, surpassing the 2005 buyout of

SunGard SunGard was an American multinational company based in Wayne, Pennsylvania, which provided software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services ...

. The buyers were forced to pay an extra $800 million because KKR made a last-minute bid as the original deal was about to be signed. Shortly after the deal closed in late 2006, cell phone sales at Motorola Corp., Freescale's former corporate parent and a major customer, began dropping sharply. In addition, in the recession of 2008–2009, Freescale's chip sales to automakers fell off, and the company came under great financial strain. Earlier that year, in January 2006, Carlyle together with Blackstone Group, AlpInvest Partners,

Hellman & Friedman Hellman & Friedman LLC (H&F) is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments. H&F has focused its efforts ...

and Thomas H. Lee Partners acquired Nielsen Company, the global information and media company formerly known as VNU in an $8.9 billion buyout. Also in 2006, Carlyle acquired Oriental Trading Company which ultimately declared bankruptcy in August 2010 as well as Forba Dental Management, the owner of

Small Smiles Dental Centers Small Smiles Dental Centers was a privately-owned US chain of dental clinics focused on serving children from low-income families. The parent company, Church Street Health Management (CSHM), has its headquarters in Suite 520 of the Castner-Knott ...

, the largest US chain of dental clinics for children.

2007–2017

In 2011, The Carlyle Group- Carlyle Asia Growth Partners IV and Yunfeng Capital acquired an approximately 80% stake in GDC Technology Limited, a digital cinema solutions provider. In August 2011, The Carlyle Group announced that it had completed the acquisition of French-based Sagemcom, a global high-technology group specializing in broadband communications and energy activities, from The Gores Group. Carlyle said in a statement it now owned 70 percent of Sagemcom, while the company's management and employees had the remaining 30 percent. Sagemcom has more than 6,000 employees globally and posted sales of 1.4 billion euros in 2010.

2017 - present

In October 2017, The Carlyle Group announced that its founders would remain executive chairmen on the board of directors but step down as the day-to-day leaders of the firm; they named Glenn Youngkin and

Kewsong Lee Kewsong Lee (; born August 12, 1965) is a Korean-American businessman who is the former chief executive officer (CEO) of private equity firm The Carlyle Group. Early life and education Lee was born in Albany, New York on August 12, 1965. His ...

to succeed them, as co-CEOs, effective January 1, 2018. On October 2017, The Carlyle Group made a $500 million investment in the brand Supreme valuing the company at $1 billion. In 2020 the investment acquired by VF Corporation, which owns

The North Face The North Face is an American outdoor recreation products company. The North Face produces outdoor clothing, footwear, and related equipment. Founded in 1968 to supply climbers, the company's logo draws inspiration from Half Dome, in Yosemit ...

, Timberland, and Vans for $2.1 billion. On October 14, 2019, The Carlyle Group and private equity firm Stellex Capital Management announced it had completed the acquisition and merger of shipbuilder Vigor Industrial LLC, Portland, Ore., and MHI Holdings LLC, a ship repair and maintenance company based in Norfolk, Va. The terms of the deal were not disclosed. On 2 June 2020, The Carlyle Group and T&D Holdings reported that they had concluded their purchase of a 76.6% stake in Fortitude Group Holdings, the latter of which comprises Fortitude Re, and American International Company Inc. Also in June 2020, Unison had been purchased by the Carlyle Group and Unison management strategic investment company. In September 2020, The Carlyle Group acquired a majority stake in Minneapolis-based sanitizing machine maker Victory Innovations. Terms of the deal were not disclosed. At the end of September 2020, Youngkin retired from the firm, stating his intention to focus on community and public service efforts; this left Lee as sole CEO. Youngkin would later go on to be elected

Governor of Virginia The governor of the Commonwealth of Virginia serves as the head of government of Virginia for a four-year term. The incumbent, Glenn Youngkin, was sworn in on January 15, 2022. Oath of office On inauguration day, the Governor-elect takes th ...

in the state's 2021 gubernatorial election. In January 2021, The Carlyle Group acquired a majority stake in

Jagex Jagex Limited is a British video game developer and publisher based at the Cambridge Science Park in Cambridge, England. It is best known for ''RuneScape'' and ''Old School RuneScape'', both free-to-play massively multiplayer online role-playi ...

, a UK video game development studio known for the massively multiplayer online game '' RuneScape''. In March 2022, The Carlyle Group acquired Dainese - an Italian motorcycle kit and clothing company from Investcorp. Following this in May 2022, The Carlyle Group announced the acquisition deal of US government contractor for cyber security and IT defence,

ManTech International ManTech International Corporation is an American defense contracting firm that was co-founded in 1968 by Franc Wertheimer and George J. Pedersen. The company uses technology to help government and industry clients. The company name "ManTech" is ...

. The deal worth $3.9 billion, will include the firm to buyout shares at $96 a share, representing a 32% premium to ManTech's closing price on February 2, 2022. The acquisition aimed to increase the firms steady stream of recurring revenue. In August 2022, The Carlyle Group acquired Abingworth, a transatlantic bioscience investment firm. In November 2022, it was announced The Carlyle Group has acquired the international marketing agency, Incubeta.

Ownership changes

For the first 25 years of its existence, Carlyle operated as a private partnership controlled by its investment partners. In 2001, the California Public Employees' Retirement System ( CalPERS), which had been an investor in Carlyle managed funds since 1996, acquired a 5.5% holding in Carlyle's management company for $175 million. The investment was valued at about $1 billion by 2007 at the height of the 2000s buyout boom. In September 2007,

Mubadala Development Company Mubadala Investment Company PJSC ( ar, شركة مبادلة للاستثمار), or simply Mubadala, is an Emirati state-owned holding company that acts as a sovereign wealth fund. The company was established in 2017 when then-named Mubadala De ...

, an investment vehicle for the government of Abu Dhabi of the

United Arab Emirates The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (Middle East, The Middle East). It is ...

, purchased a 7.5% stake for $1.35 billion. In February 2008, California legislators targeted Carlyle and Mubadala, proposing a bill that would have barred CalPERS from investing money "with private-equity firms that are partly owned by countries with poor records on human rights." The bill, which was intended to draw attention to the connection between Carlyle and Mubadala Development, was later withdrawn. In May 2012, Carlyle completed an initial public offering of the company, listing under the symbol CG on the NASDAQ. The firm, which at the time managed about $147 billion of assets, raised $671 million in the offering. Following the IPO, Carlyle's three remaining founding partners, Rubenstein, D'Aniello and Conway retained the position as the company's largest shareholders. In June 2017, Carlyle took its non-traded BDC, TCG BDC, Inc., public in the first business development company IPO since 2014.

Senior leadership

* ''Chairman:'' None (''Daniel A. D'Aniello currently serves as chairman emeritus'') * ''Chief Executive:'' William E. Conway Jr. (interim; since 2022)

List of chairmen

# Daniel A. D'Aniello (2012–2018)

List of former chief executives

and

David M. Rubenstein David Mark Rubenstein (born August 11, 1949) is an American billionaire businessman. A former government official and lawyer, he is a co-founder and co-chairman of the private equity firm The Carlyle Group,Kewsong Lee Kewsong Lee (; born August 12, 1965) is a Korean-American businessman who is the former chief executive officer (CEO) of private equity firm The Carlyle Group. Early life and education Lee was born in Albany, New York on August 12, 1965. His ...

and Glenn Youngkin (2017–2020) # Kewsong Lee (2020–2022)

Business segments

The firm is organized into four business segments: * Corporate Private Equity – Management of Carlyle's family of private equity funds investing primarily in leveraged buyout and growth capital transactions through a range of geographically focused investment funds; * Real Assets – Management of funds that pursue investments in real estate, infrastructure and energy and renewable resources; * Global Credit – Management of funds that pursue investments in distressed & special situations, direct lending, energy credit, loans & structured credit and opportunistic credit; and * Investment Solutions – Management of funds that invest in private equity and real estate fund of funds, co-investment and secondaries.

Corporate Private Equity

Carlyle's Corporate Private Equity division manages a series of leveraged buyout and

growth capital Growth capital (also called expansion capital and growth equity) is a type of private equity investment, usually a minority investment, in relatively mature companies that are looking for capital to expand or restructure operations, enter new mar ...

investment funds with specific geographic or industry focuses. Carlyle invests primarily in the following industries:

aerospace Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applications. Aerospace engineering consists of aeronautics and ast ...

, defense & government services, consumer & retail, energy, financial services, health care, industrial,

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...

, technology and business services, telecommunications & media, and transportation. Carlyle's Corporate Private Equity segment advises 23 buyout and 10 growth capital funds, with $75 billion in Assets Under Management ("AUM") as of March 31, 2018.

Real Assets

Carlyle's Real Assets segment advises 11 U.S. and internationally focused real estate funds, two infrastructure funds, two power funds, an international energy fund, and four Legacy Energy funds (funds that Carlyle jointly advises with Riverstone). The segment also includes nine funds advised by NGP. The Real Assets segment had about $44 billion in AUM as of March 31, 2018.

Global Credit

Carlyle's Global Credit segment advises 53 funds that pursue investment opportunities across distressed and special situations, direct lending, energy credit, loans and structured credit and opportunistic credit. The Global Credit segment had about $34 billion in AUM as of March 31, 2018.

Investment Solutions

Carlyle's Investment Solutions segment advises global private equity (AlpInvest Partners) and real estate (Metropolitan) fund of funds programs and related co-investment and secondary activities across 209 fund vehicles. The Investment Solutions segment had about $49 billion AUM as of March 31, 2018. AlpInvest Partners is one of the largest private equity investment managers globally with over €38 billion under management as of March 31, 2018, invested alongside more than 250 private equity firms. Founded in 2000, AlpInvest has historically been the exclusive manager of

investments for the investment managers of two of the world's largest pension funds Stichting Pensioenfonds ABP (ABP) and Stichting Pensioenfonds Zorg en Welzijn (PFZW), both based in the

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

. In 2011, Carlyle acquired AlpInvest and has integrated the business, including its leading fund-of-funds and secondary platforms, significantly expanding Carlyle's global asset management business. AlpInvest pursues investment opportunities across the entire spectrum of private equity including: large buyout, middle-market buyout,

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which h ...

, mezzanine, distressed and sustainable energy investments. AlpInvest has offices in

Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the capital and most populous city of the Netherlands, with The Hague being the seat of government. It has a population of 907,976 within the city proper, 1,558,755 in the urban ar ...

and

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...

with about 150 people, of whom more than 80 are investment professionals. Carlyle's real estate fund of funds group is called Metropolitan, which provides investors with access to multi-manager real estate funds and strategies with more than 85 fund managers in the United States,

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...

and

Latin America Latin America or * french: Amérique Latine, link=no * ht, Amerik Latin, link=no * pt, América Latina, link=no, name=a, sometimes referred to as LatAm is a large cultural region in the Americas where Romance languages — languages derived ...

. Metropolitan constructs and manages U.S., non-U.S. and global real estate portfolios, which include primary and secondary fund interests as well as co-investments.

Subsidiaries and joint-ventures

Carlyle has been actively expanding its investment activities and assets under management through a series of acquisitions and joint-ventures.

Carlyle Capital Corporation

In March 2008, Carlyle Capital Corporation – established in August 2006 for the purpose of making investments in U.S. mortgage-backed securities – defaulted on about $16.6 billion of debt as the global credit crunch brought about by the subprime mortgage crisis worsened for leveraged investors. The Guernsey-based affiliate of Carlyle was very heavily leveraged, up to 32 times by some accounts, and it expected its creditors to seize its remaining assets. Tremors in the mortgage markets induced several of Carlyle's 13 lenders to make margin calls or to declare Carlyle in default on its loans. In response to the forced liquidation of mortgage-backed assets caused by the Carlyle margin calls and other similar developments in credit markets, on March 11, 2008, the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

gave Wall Street's primary dealers the right to post mortgaged-back securities as collateral for loans of up to $200 billion in higher-grade, U.S. government-backed securities. On March 12, 2008,

BBC News Online BBC News Online is the website of BBC News, the division of the BBC responsible for newsgathering and production. It is one of the most popular news websites, with 1.2 billion website visits in April 2021, as well as being used by 60% of the ...

reported that "instead of underpinning the mortgage-backed securities market, it seems to have had the opposite effect, giving lenders an opportunity to dump the risky asset" and that Carlyle Capital Corp. "will collapse if, as expected, its lenders seize its remaining assets." On March 16, 2008, Carlyle Capital announced that its Class A Shareholders had voted unanimously in favor of the Corporation filing a petition under Part XVI, Sec. 96, of the Companies Law (1994) of Guernsey for a "compulsory winding up proceeding" to permit all its remaining assets to be liquidated by a court-appointed liquidator. The losses to the Carlyle Group due to the collapse of Carlyle Capital are reported to be "minimal from a financial standpoint". In September 2017, the court ruled that Carlyle had no liability in the lawsuit.

In documentaries

Carlyle has been profiled in Michael Moore's '' Fahrenheit 9/11'' and William Karel's ''

The World According to Bush ''The World According to Bush'' (french: Le Monde Selon Bush) is a 2004 French documentary, co-written and directed by William Karel based on the book by Éric Laurent, about the presidency of George W. Bush and the history of the Bush family, in ...

''. In ''Fahrenheit 9/11'', Moore makes nine allegations concerning the Carlyle Group. Moore focused on Carlyle's connections with George H. W. Bush and his Secretary of State James Baker, both of whom had at times served as advisers to the firm. The movie quotes author Dan Briody, who claimed that the Carlyle Group "gained" from the

September 11 attacks The September 11 attacks, commonly known as 9/11, were four coordinated suicide terrorist attacks carried out by al-Qaeda against the United States on Tuesday, September 11, 2001. That morning, nineteen terrorists hijacked four commer ...

because it owned military contractor United Defense. A Carlyle spokesman noted in 2003 that its 7% interest in defense industries was far less than several other private equity firms. In ''The World According to Bush'', William Karel interviewed Frank Carlucci to discuss the presence of Shafiq bin Laden, Osama bin Laden's estranged brother, at Carlyle's annual investor conference while the September 11 attacks were occurring.

References

* * * *

External links

The Carlyle Group
(company website)
Mubadala Development Company

Carlyle Group - Mergr Profile
{{DEFAULTSORT:Carlyle Group 1987 establishments in Washington, D.C. 2012 initial public offerings Financial services companies established in 1987 Companies listed on the Nasdaq Financial services companies based in Washington, D.C. Mezzanine capital investment firms Private equity firms based in Washington, D.C. American companies established in 1987