Carlyle poised for 2.5x return in sale of Bank of Butterfield shares

David Rubenstein, Carlyle Group, private equity, Kewsong Lee, Glenn Youngkin, William Conway Jr, Peter Clare, Dan D'aniello
  • Acquired $150 mln Bank of Butterfield stake in 2010
  • Bank IPO’d in 2016; second offering priced in February
  • Carlyle's first financial-services fund netting 12.4 pct IRR
Carlyle Group stands to make as much as 2.5x its investment in Bank of Butterfield, a publicly traded Bermudan bank that floated a public offering on the New York Stock Exchange last year. Carlyle unloaded roughly 3 million shares in ...

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