Carlyle Group co-founder and front man David Rubenstein spoke at the British private equity underwriter (PEU) gathering. Amidst the greedy, stiff upper lips Rubenstein shared his top 10 fundraising tips:
That's why the following don't make Carlyle's materials, Carlyle Capital Corporation, Blue Wave Partners, Semgroup, Oriental Trading, Stallion Oilfield Service, IMO Carwash, Hawaiian Telecom, Edscha, and Verari. All went bankrupt under Carlyle ownership. Other blemishes include China Forestry and China Argitech with accounting scandals and LifeCare Hospitals, which has the highest patient death toll after Hurricane Katrina. Here's the rest of David's Top Ten.1) Believe in what you are doing2) Know what you are talking about3) Make sure you enjoy what you are doing4) Listen to potential investors5) Make sure your materials back up what you are saying
6) Follow upMeanwhile, other PEU leaders waxed on and off regarding mega deals returning. And Carlyle's Charles Rossotti recommended it's "smarter to damn the torpedoes" and "grow the federal business faster."
7) Know how to ask for money8) Make sure you say thank you when you get it9) Accept what you are given10) Accept “no” for an answer gracefully.
Even though Carlyle loves federal business, it hates paying taxes. The Carlyle Group is a virtual nonprofit, paying a mere 1% of profits in taxes. Add the nonprofit nature of most of Carlyle's debt securitizations and things become more distorted.