The Carlyle Group

Office address: 1001 Pennsylvania Avenue NW, Washington, DC 20004
Website: www.carlyle.com
Year established: 1987
Company type: investment firm
Employees: 2,200+
Expertise: leveraged buyouts, growth capital, energy, financial services, technology, healthcare, consumer and retail, aerospace and government services, private equity, real assets, global credit, investment solutions, structured credit, real estate
Parent company: N/A
Key people: Harvey Schwartz (CEO), William Conway Jr. (co-founder), David Rubenstein (co-founder), Anthony Welters (director), Sharda Cherwoo (director), Linda Filler (director), James Hance Jr. (director)
Financing status: N/A

The Carlyle Group, headquartered in Washington, DC, is a multinational investment firm managing $435 billion in assets across private equity, alternative asset management, and financial services. Employing over 2,200 professionals, Carlyle operates from 29 offices spanning four continents and runs more than 600 investment vehicles. The firm is one of the largest globally, leveraging its wide network to deliver value and growth for its clients.

History of The Carlyle Group

The Carlyle Group was founded in 1987 by David Rubenstein, Stephen Norris, William Conway Jr., Daniel D'Aniello, and Greg Rosenbaum as a boutique investment bank. The firm took its name from the Carlyle Hotel, where two founders conceived the business. In 1991, Carlyle gained attention by advising on a $500 million investment in Citigroup by Prince Al-Waleed bin Talal.

During the 1990s, it made a mark in the defense industry by acquiring and selling military electronics firms like GDE Systems and Magnavox. In the 2000s, Carlyle led significant buyouts, including Hertz and Freescale Semiconductor, while facing challenges such as the Hawaiian Telcom bankruptcy. Between 2022 and 2023, Carlyle continued its expansion by acquiring companies like Dainese and making a minority investment in Captrust Financial Advisors.

Products and Services of The Carlyle Group

Carlyle's business spans an array of products and services across key sectors. Below are some of its main offerings:

• private equity: invests in companies across various industries, aiming to improve operations, management, and growth
• real assets: focuses on real estate, infrastructure, and natural resources, providing opportunities for long-term value creation
• global credit: offers tailored credit solutions to businesses, including direct lending, opportunistic credit, and distressed debt
• investment solutions: provides access to funds-of-funds, secondaries, and co-investments, offering diverse ways to invest in private markets
• aerospace and government services: invests in defense, aerospace, and government-related businesses to enhance capabilities in these specialized sectors
• other services: financial services, technology, healthcare, energy, consumer and retail

The Carlyle Group uses its global scale, industry expertise, and deep partnerships to deliver sustainable value across its diverse investment offerings. By applying its full platform to every investment, Carlyle identifies new opportunities, drives business transformation, and fosters long-term growth. This approach has built lasting trust and credibility with partners worldwide.

Culture at The Carlyle Group

The Carlyle Group focuses on long-term career growth by investing in employees' professional development and personal well-being. Integrity, collaboration, and transparency are core to Carlyle’s culture, ensuring employees feel valued and supported. It offers a wide range of benefits that promote both physical and emotional well-being, emphasizing balance between work and life:

• health and life insurance: comprehensive coverage for employees and their families
• behavioral health resources: offering therapy, coaching programs, and mental health support
• family support: includes paid parental leave, back-up care, and fertility services
• financial benefits: 401(k) savings plan with company matching contributions, commuter benefits, and financial planning resources
• well-being programs: holistic programs to support work-life balance and promote overall wellness

The organization believes that combining environmental, social, and governance (ESG) factors into their investments leads to better results and more sustainable returns for stakeholders. Their "Sustainable Pathways" report reflects the firm's commitment to navigating complex sustainability issues while strengthening their investment approach. The Carlyle Group aims to enhance their capital stewardship and long-term value creation:

• diverse teams: building inclusive teams for better decision-making
• sustainable growth: reducing risks while driving value with a tailored sustainability approach
• climate resilience: addressing climate challenges to improve adaptability
• stronger communities: supporting local communities through active engagement
• net zero target: aiming for net zero greenhouse gas emissions by 2050 or sooner across direct investments

Carlyle values diversity, equity, and inclusion (DEI) as key drivers of performance, aiming to build better businesses by fostering a wide range of perspectives. They believe that diverse teams lead to stronger decisions and continue to focus on creating an inclusive workplace by challenging the status quo. Their initiatives include:

• DEI council: established to lead strategy and maintain accountability
• leadership network: launched to connect senior leaders and promote best practices
• gender parity: achieved gender equality on their executive committee
• training and partnerships: introduced unconscious bias training and collaborated with groups like Management Leadership for Tomorrow to expand diverse talent pipelines

The Carlyle Group is committed to making a positive impact on communities through both their investments and charitable work. They support employees in contributing to their local communities through global volunteer programs and wealth-sharing initiatives. They encourage their professionals to actively engage in efforts that improve the places where they live and work.

About The Carlyle Group CEO Harvey Schwartz and Key People

Harvey M. Schwartz serves as the CEO of The Carlyle Group and sits on its board of directors. Prior to this role, he worked at several major firms, including Goldman Sachs and Citigroup. Schwartz holds a bachelor's degree from Rutgers University and an MBA from Columbia University, and he currently serves on the boards of several companies.

The Carlyle Group's leadership is made up of skilled professionals who are responsible for shaping the company’s strategy, which includes:

• William E. Conway Jr. as a co-founder and co-chair of the board, provides strategic leadership, previously serving as chief investment officer and interim CEO
• David M. Rubenstein, as co-founder and co-chair of the board, focuses on long-term strategy and is involved in multiple philanthropic leadership roles
• Anthony Welters serves as a director, chairs the Compensation Committee, and brings expertise from founding AmeriChoice and leading healthcare and commercial enterprises
• Sharda Cherwoo as a director draws from her 40-year career at Ernst & Young, specializing in private equity and digital transformation
• Linda H. Filler, serving as a director, brings leadership experience from roles at Walgreens, Walmart, and Kraft, and serves on multiple corporate boards
• James H. Hance Jr., as an operating executive and director, leverages his financial services expertise as former vice chairman and CFO of Bank of America

The Future at The Carlyle Group

The Carlyle Group seeks to expand into new areas such as clean energy, diversify its portfolio, and increase growth opportunities. A recent strategic partnership with North Bridge ESG will support the origination of clean energy loans, improving Carlyle’s position in real estate and asset-backed finance. This collaboration helps them address market demands while tapping into potential new revenue streams in the growing clean energy sector.

In September 2024, Carlyle partnered with Unison to invest up to $300 million in equity-sharing home loans. This investment aims to help homeowners access home equity with lower payments, matching up with The Carlyle Group’s strategy of scaling up into real estate finance. By entering the growing market of equity-sharing, the company continues to broaden its investment mix and create new revenue opportunities.