Due to Carlyle Partners - $ 1.37 billion
I assume this includes Carlyle's co-founders, the DBD's, CalPERS and Mubadala. This is prior to any IPO proceeds, expected at $1 billion or more.
Deferred Tax Assets - $15.4 millionAll deferred tax liabilities came from newly acquired entities. Carlyle only had deferred tax assets prior to these combinations:
Deferred Tax Liabilities - $63.6 million
No provision has been made for U.S. federal income taxes in the accompanying combined and consolidated financial statements since the Company is a group of pass-through entities for U.S. income tax purposes and its profits and losses are allocated to the partners who are individually responsible for reporting such amounts. Based on applicable foreign, state and local tax laws, the Company records a provision for income taxes for certain entities. Tax positions taken by the Company are subject to periodic audit by U.S. federal, state, local and foreign taxing authorities.I understand how performance fees are considered carried interest and passed through to partners and investors. I don't get how annual management fees fall into this same category.
Carlyle has $10.98 billion in Level III investments, of which $10.44 billion are in loans. This provides Carlyle a back door for corporate acquisition.
Partners' Capital is $62.3 billion. It's not clear how much is the DBD's or exactly where it's parked.
