Sunday, August 11, 2013

Carlyle Group Wants to Earn Fees on Everyone's Money

Carlyle Group co-founder David Rubenstein stated in his PEU's 2nd Quarter earnings call:

"We will slow down fundraising only when every single person on the face of the earth is already a Carlyle investor. Until that, we're not going to slow down."

It's another good line for Carlyle's biggest salesman and apologist.  Post-financial crisis Rubenstein compared easy credit to being "like sex," where seasoned financial experts couldn't say no.   How many on the "face of the earth" will recall this before plucking a portion of their hard earned retirement money into Carlyle PEU?  It would help Carlyle's billionaire founding troika grow their already sizable mountains of cash in retirement.

For some reason the Washington Business Journal writer heard "face of Europe."  Anyway, the pressure's on for Blackstone's Stephen Schwarzman to out joke his peer and competitor.  It's a PEU world, one with a darkly comedic side.