Carlyle IPO Picking Up Steam

The Carlyle Group is filings S-1/A's at increasing speed.  After going months between IPO amended filings, Carlyle filed updates within days.  Their third filing in April is expected tomorrow (the 16th).  WSJ reported:

Carlyle Group plans to sell 30.5 million shares priced between $23 and $25 in its initial public offering, which could come before the end of the month.

These are all new shares, according to Carlyle.  No existing owner will sell shares in the IPO.  

No Carlyle employees—including founders David Rubenstein, William Conway and Daniel D'Aniello—are selling stock in the IPO. Nor are major stakeholders such as the California Public Employees' Retirement System and Abu Dhabi-based Mubadala Development Co.

With no one looking to cash out, there is little incentive to push shares at a higher price and risk a clumsy debut, these people said. Instead, Carlyle's current owners are betting that the shares created for the offering will gain value, erasing the dilution they'll see in the value of their stakes at the onset.

Pay attention to future S-1/A's.  Carlyle's co-founders publicly stated they want to liquefy their stake.  Will they sneak in a few shares prior to the IPO? 

Generous Carlyle is leaving a little on the table for the little guy.  That co-founder love should help generate investor interest, along with media hype.  Carlyle lined up WSJ, WaPo, Bloomberg and the Chicago Tribune to tell their story.  .

Carlyle's IPO is picking up steam.  The pace of filings increases. Climax expected within two weeks.

Update 4-16-12:  Carlyle's latest S-1/A is on Edgar.