Monday, March 28, 2011

The Gods Are Cashing In

CNBC reported Carlyle may monetize itself via an IPO, like Apollo Global Management:

Private equity firm Apollo Global is set to go public this week, and if the sale goes well, a gaggle of alternative investment managers could follow.

Bankers are holding discussions with firms including Oaktree Capital Management and Carlyle Group about going public and are watching to see how Apollo does, sources familiar with the situation said.
Apollo was the god of prophecy, herds and plague.  It will be interesting to see which applies to the PEU's IPO.

Update 4-9-11:  CNBC offered access to capital as a motivator for PEU's going public:  "There is a material advantage to being public in terms of cost of capital and access to capital."  That is disputed by Bloomberg's story on PEU access to cheap and plentiful leveraged loans.  PEU IPO's are to further enrich founders and principals.  How far might they rocket PEU's up the world's richest list, our modern day version of godliness?   Or, might it be godlessness....

Update 6-3-11:  Carlyle is on track for a third quarter IPO, according to WSJ.