PEUReport readers may recall a past challenge of counting the Cayman Island subsidiaries of The Carlyle Group, a private equity underwriter (PEU) with $199 billion in assets under management.
This challenge becomes more meaningful knowing U.S. parent corporations made $51 billion in Cayman profits, while the Caymans had a mere $3 billion in gross domestic product.
This year's subsidiary list is included in Carlyle's 10-k filing with the SEC. One could count Carlyle's subs in each of the dozen tax haven countries. Enjoy!
Update 3-16-22: New Yorker reported:
Freedom House, a Washington think tank, has described the use of tax havens and other hidden maneuvers as a “multifaceted threat to democratic governance.” The efforts to escape an ordinary obligation of citizenship, while sometimes legal, “hollow out public services, and they fuel populist resentment by magnifying the perception that the system is rigged in favor of wealthy elites,” the group declared. Over time, they “set a country on a path toward institutional breakdown or even state failure.”
