The Carlyle Group Company Profile and Operations

The Carlyle Group is a global investment firm with a rich history dating back to 1987. It was founded by David Rubenstein, William Conway, and Daniel D'Aniello.

The company is headquartered in Washington, D.C. and has offices in over 30 countries worldwide. Its global presence allows it to invest in a wide range of industries and geographies.

Carlyle Group's investment focus spans various sectors, including private equity, real assets, and credit. This diversified approach enables the company to adapt to changing market conditions and capitalize on new opportunities.

With a team of experienced professionals, Carlyle Group has a strong track record of delivering returns to its investors.

The Carlyle Group has a rich history of significant events and milestones. In 2025, the company made two notable acquisitions, acquiring a controlling stake in Highway Industries Limited and Roop Automotives Limited, and also investing in Entertainment 360.

One of the company's earliest and most notable investments was in 1992, when it acquired the Electronics division of General Dynamics Corporation, renamed GDE Systems. Carlyle also acquired Magnavox Electronic Systems from Philips Electronics in 1993.

Here are some key events that highlight the company's history:

Carlyle was founded in 1987 as a boutique investment bank by five partners with backgrounds in finance and government. They named the firm after the Carlyle Hotel in New York City.

The founding partners had impressive credentials, with Rubenstein working in the Carter Administration, Norris and D'Aniello working together at Marriott Corporation, and Conway serving as a finance executive at MCI Communications. Rosenbaum left the firm in its first year, and Norris departed in 1995, but Rubenstein, Conway, and D'Aniello remain active in the business.

Carlyle was founded with $5 million of financial backing from reputable investors, including T. Rowe Price and the Richard King Mellon family. This significant investment helped the firm get off the ground.

In its early years, Carlyle raised capital deal-by-deal to pursue leveraged buyout investments, including a failed takeover battle for Chi-Chi's. The firm's strategy was to focus on acquiring businesses related to the defense industry, which would become a key part of its reputation.

The early 2000s were a time of rapid technological advancements and significant global events. The world was still reeling from the 9/11 attacks in 2001, which had a profound impact on international relations and security measures.

The US-led invasion of Iraq in 2003 was another major event that dominated the headlines. The invasion was sparked by concerns over Iraq's alleged possession of WMDs, which were later found to be non-existent.

The early 2000s also saw the rise of social media, with platforms like MySpace and Friendster becoming popular among young people. These early social media platforms allowed users to create profiles, connect with friends, and share content.

The global economy was also experiencing significant changes during this period, with the dot-com bubble bursting in 2000 and leading to a recession. The aftermath of the recession saw a period of slow economic growth and high unemployment.

In 2011, Carlyle acquired AlpInvest Partners in a joint venture with the firm's management, entering into a new line of business managing fund of funds, secondary investments and co-investments.

Two years later, Carlyle acquired the remaining ownership stake in AlpInvest, making that business a wholly-owned subsidiary.

In October 2017, the Carlyle Group announced that its founders would remain executive chairmen on the board of directors but step down as the day-to-day leaders of the firm.

The Carlyle Group made a significant investment in the brand Supreme, valuing the company at $1 billion.

In 2020, the Carlyle Group sold its investment in Supreme to VF Corporation for $2.1 billion, a substantial return on investment.

The Carlyle Group also acquired a 76.6% stake in Fortitude Group Holdings in June 2020.

In January 2021, the Carlyle Group acquired a majority stake in Jagex, a British video game development studio.

This acquisition marked the Carlyle Group's entry into the video game industry, a new area of focus for the company.

The Carlyle Group entered a partnership agreement with SPX Capital in May 2021 to establish a private equity strategy in the Brazilian market.

In March 2022, the Carlyle Group acquired Dainese, an Italian motorcycle kit and clothing company.

The Carlyle Group then acquired ManTech International, a US government contractor for cyber security and IT defence, for $3.9 billion in May 2022.

In February 2023, Harvey Schwartz was appointed CEO of the Carlyle Group, replacing Kewsong Lee.

The Carlyle Group strengthened its partnership with Korea Investment & Securities in October 2024, one year after forming a strategic alliance.

The Carlyle Group has had a few different leaders over the years.

Harvey Schwartz has been the Chief Executive since February 2023. He's the one in charge of making big decisions for the company.

Daniel A. D'Aniello has been the chairman emeritus since he stepped down from the role. He previously served as chairman from 2012 to 2018.

Here's a list of some of the key leaders in Carlyle's history:

At the top of the leadership chain, you'll find the senior leadership team. The current Chairman is none other than Daniel A. D'Aniello, who now serves as chairman emeritus.

The Chief Executive role has seen some changes recently, with Harvey Schwartz taking the reins since February 2023.

Let's take a look at the team's leadership structure in a bit more detail:

Leadership is a critical aspect of any organization, and having the right person at the helm can make all the difference. Frank Carlucci held the position of chairman from 1992 to 2003.

During his tenure, Carlucci provided strong leadership and helped shape the organization's direction. Carlucci was followed by Lou Gerstner, who served as chairman from 2003 to 2008.

Gerstner brought a wealth of experience and expertise to the role, helping to drive growth and success. He was succeeded by Daniel A. D'Aniello, who served as chairman from 2012 to 2018.

D'Aniello's leadership helped to navigate the organization through challenging times and position it for future success.

Here's a list of the chairmen who have led the organization over the years:

The Carlyle Group has a complex ownership structure that has evolved over the years. In 2001, CalPERS acquired a 5.5% holding in Carlyle's management company for $175 million.

CalPERS' investment was valued at about $1 billion by 2007. This significant increase in value highlights the growth and success of Carlyle during that period.

In 2007, Mubadala Development Company purchased a 7.5% stake in Carlyle for $1.35 billion. This investment marked a significant milestone in Carlyle's history and further solidified its position as a leading private equity firm.

California legislators targeted Carlyle and Mubadala in 2008, proposing a bill that would have barred CalPERS from investing in private-equity firms with ties to countries with poor human rights records. The bill was later withdrawn.

In May 2012, Carlyle completed an initial public offering, listing under the symbol CG on the NASDAQ. This move allowed Carlyle to raise $671 million and expand its reach in the financial market.

Carlyle's founding partners, Rubenstein, D'Aniello, and Conway, retained their positions as the company's largest shareholders after the IPO. Their continued involvement underscores their commitment to the firm's success.

The Carlyle Group's Business is a global private equity powerhouse with a significant presence in the industry. The company has a robust Investment Solutions segment that advises global private equity through its subsidiary, AlpInvest Partners, which manages fund of funds programs and related Co-investments and Secondary investments across more than 340 fund vehicles.

AlpInvest Partners has approximately $63 billion of assets under management as of December 31, 2022, making it one of the largest private equity investment managers globally. The company has a strong track record of growth, having expanded its investor base from two original Dutch pension sponsors to more than 450 institutional investors globally since its acquisition by Carlyle in 2011.

Here's a breakdown of AlpInvest Partners' key statistics:

Carlyle is organized into three business segments.

The first segment is Global Private Equity, which manages Carlyle's family of private equity funds. These funds invest primarily in leveraged buyout and growth capital transactions through geographically focused investment funds. They also manage funds that pursue investments in real estate, infrastructure, and energy and renewable resources.

The second segment is Global Credit, which manages funds that pursue investments in distressed & special situations, direct lending, energy credit, loans & structured credit, and opportunistic credit.

The third segment is Global Investment Solutions, which manages funds that invest in private equity and real estate fund of funds, co-investment, and secondaries through its AlpInvest Partners subsidiary.

Here are the three business segments in a list format:

Carlyle's business model is quite diverse, with a range of products and services that cater to different needs.

Their Corporate Private Equity division is a significant part of their business, managing a series of leveraged buyout and growth capital investment funds with specific geographic or industry focuses.

Carlyle advises 23 buyout and 10 growth capital funds, which is a substantial portfolio. As of March 31, 2018, they had $75 billion in Assets Under Management ("AUM").

Here are some of the key products and services offered by Carlyle:

These products and services are designed to meet the needs of various clients, from corporate investors to individual investors.

Carlyle's Real Assets segment is a significant part of their business, advising on a wide range of funds focused on real estate and infrastructure investments.

The segment includes 11 U.S. and internationally focused real estate funds, two infrastructure funds, two power funds, an international energy fund, and four Legacy Energy funds, which Carlyle jointly advises with Riverstone.

These funds are managed to provide investors with a steady stream of income and potential for long-term growth.

As of March 31, 2018, the Real Assets segment had about $44 billion in Assets Under Management (AUM).

Here's a breakdown of the Real Assets segment's funds:

The Real Assets segment's diverse portfolio of funds provides investors with a range of options for investing in real estate and infrastructure.

Carlyle's Investment Solutions segment is a global leader in private equity, with a subsidiary called AlpInvest Partners. AlpInvest manages fund of funds programs and related Co-investments and Secondary investments across more than 340 fund vehicles.

AlpInvest has approximately $63 billion of assets under management as of December 31, 2022. This makes it one of the largest private equity investment managers globally.

AlpInvest was founded in 2000 and has since grown its investor base from two original Dutch pension sponsors to more than 450 institutional investors globally. The company pursues investment opportunities across the entire spectrum of private equity, including large buyout, middle-market buyout, venture capital, growth capital, mezzanine, distressed, and sustainable energy investments.

Some of the key areas AlpInvest focuses on include:

• Large buyout

• Middle-market buyout

• Venture capital

• Growth capital

• Mezzanine

• Distressed

• Sustainable energy investments

AlpInvest has a presence in multiple locations, including New York, Amsterdam, London, Hong Kong, San Francisco, Indianapolis, Singapore, and Tokyo, with over 100 investment professionals and over 175 employees.

The Carlyle Group has been actively expanding its investment activities and assets under management through a series of acquisitions and joint-ventures.

The company has a diverse portfolio across various sectors, including energy, materials, industrials, and more. Carlyle has been actively expanding its investment activities and assets under management through a series of acquisitions and joint-ventures.

Carlyle's investment activities span across multiple sectors, including energy and materials. They have also made investments in the consumer discretionary and staples sectors.

Here's a breakdown of Carlyle's investment activities across various sectors:

Carlyle's investment activities have been quite extensive, covering a wide range of sectors.

The Carlyle Group offers a variety of products and services to its clients. Corporate Private Equity is one of its key products.

Carlyle's Corporate Private Equity product provides investment solutions, a valuable resource for companies looking to grow or expand their operations. Carlyle's expertise in this area has helped many businesses achieve their goals.

The group also offers Buyout Funds, which are designed to provide investors with a stake in companies that are being acquired or taken private. AlpInvest is one of the brands associated with this product.

Investors can also consider Real Estate Funds, which Carlyle offers. This type of fund allows investors to pool their resources and invest in a diversified portfolio of real estate assets.

Here is a summary of Carlyle's products and services:

The Carlyle Group has several competitors in the private equity industry.

Kohlberg Kravis Roberts (KKR) is one of its main competitors, founded in 1976 by Jerome Kohlberg, Henry Kravis, and George Roberts.

KKR is known for its leveraged buyout expertise and has completed numerous high-profile deals, including the acquisition of RJR Nabisco in 1988.

Blackstone Group is another competitor, founded in 1985 by Stephen Schwarzman and Peter Peterson.

Blackstone has a diverse range of investment options, including private equity, real estate, and hedge funds.

Apollo Global Management is a private equity firm that competes with Carlyle Group, founded in 1990 by Leon Black and Marc Rowan.

Apollo has a strong track record of investing in various sectors, including media, consumer goods, and healthcare.

The Carlyle Group is a global alternative asset management firm that advises specialized investment funds and other investment vehicles. It has expertise in various industries, including aerospace, defense, and government services.

Carlyle has operations across North America, Europe, the Middle East, and Asia. Its investors include public and private pension funds, high net-worth individuals, insurance companies, families, and sovereign wealth funds.

The group is headquartered in Washington DC, the US. Carlyle advises funds that invest across various industries, geographies, asset classes, and investment strategies.