The Carlyle Group could laugh or cry about recent stories. WaPo reported on the gag video of its three cofounders, nicknamed the DBD's:
The three co-founders were filmed “working” at Carlyle portfolio companies: Dan D’Aniello manning the counter at Dunkin’ Donuts, a scruffy Bill Conway retooling a truck at Allison Transmission and David Rubenstein pitching NBTY muscle-building supplement to a couple of ripped young men.
At least D'Aniello makes a living wage at Carlyle and didn't need to prostitute himself via the drive through window. Conway could have been shown retooling U.S. Presidents and Presidential want-a-be's, who regularly grace Allison;s factory floor. Rubenstein could pitch anything, even sell snow to Alaskan natives, which is roughly how he made his first fortune. But enough levity, on to a Carlyle tragedy.
The National Law Journal's story may produce tears, given Carlyle's IPO designs:
Zoe Tillman reports that the Washington-based Carlyle Group is facing a slew of lawsuits that accuse them of misleading investors about mortgage-backed securities. The plaintiffs say the investment firm failed to disclose unrealized losses prior to an initial public offering.
The suits are in regard to Carlyle Capital Corporation. Carlyle pleaded puffery as their legal defense in another case.