Tuesday, May 29, 2018

Rubenstein Launches Declaration Capital

Investment News reported:

When Mr. Rubenstein, 68, named his family office, he dubbed it Declaration Capital. He created the firm last year as he stepped back from his role as co-chief executive officer of Carlyle and became co-executive chairman.

The former White House staffer who became a leveraged-buyout legend will directly oversee Declaration Capital. He's also funded an affiliate called Declaration Partners, which has wider ambitions.

The staff includes Mr. Rubenstein's daughter, Alexa Rachlin.  Family offices are increasingly common for the ultra-wealthy to manage their fortunes and take care of their personal needs.

Declaration has completed about 10 deals, a person with knowledge of the matter said.
The former Mrs. Rubenstein said her husband only cared about money.  Since David Rubenstein signed the giving pledge I wonder what daughter Alexa Rachlin will do when more than half her father's money is given away to charity.  Maybe she'll share a little of the remainder with her mother.