Thursday, April 23, 2009

Carlyle Group Falls to #3 in Five Year Funds Raised

Private Equity International ranked private equity underwriters (PEU's) by the direct capital investment raised over the last five years. Their statistics show:

1. TPG $52.3 billion
2. Goldman Sachs $48.9 billion
3. Carlyle Group $47.7

That's odd. A different statistic, funds under management, tells a different story regarding Carlyle.

December 2003 $17.5 billion
December 2008 $91.5 billion

That's five year growth of $74 billion, over 420%. The Carlyle Group rode the greed and leverage train. With the bubble burst, Carlyle now manages $85.5 billion in assets. They had to issue capital calls to pension funds and other large investors.

The rankings raise another question. Did any of Goldman's $10 billion in taxpayer bailout money satisfy capital calls for Goldman Sachs' PEU? Money is fungible, and fudge-able.