Home > Common Sense, Hypocrisy, It's all about money, It's just wrong, Madness, The economy, Why it's all gone horribly wrong? > Carlyle opens trading at $22, IPO priced at $22 #cg #carlyle #pe

Carlyle opens trading at $22, IPO priced at $22 #cg #carlyle #pe


David M. Rubenstein, Co-Founder and Managing D...

David M. Rubenstein, Co-Founder and Managing Director, Carlyle Group, USA, captured during the session ‘Myths and Realities of Private Equity’ at the Annual Meeting 2008 of the World Economic Forum in Davos, Switzerland, January 26, 2008. (Photo credit: Wikipedia)

The founding members of Carlyle are reputedly sitting on stakes worth over $1bn each.

Over 30m shares were sold at $22, below the IPO‘s proposed range of $23-25, reflecting investor uncertainty.

Apparently the 3 founders will not sell shares in the IPO and intend to give the bulk of their wealth away to philanthropic causes. This “legacy” is quite touching given that private equity firms seek value in buyouts. This often results in redundancies in a drive towards greater profits.

We should thank private equity however, for making the world a more efficient place to live in.

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