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Carlyle Issues Annual Report

For the second time, Carlyle Group has made its annual report available to the public. I haven’t had time to fully examine the entire 64 pages of it, but I did notice the obvious–it doesn’t give us specific write-up and write-down numbers (maybe I overlooked them?).

The report does not make mention of the firm’s newly adopted Cuomo code of conduct or conspicuously avoid mention of the $20 million settlement it paid to the state of New York, as I had mistakenly written here earlier (rather, it lists the Private Equity Council Code). The reason it doesn’t make mention of these things because the report was at the printer when they happened, I’m told.

Also, I previously wrote, I was curious as to which pocket of capital that $20 million fee came from. Carlyle’s spokesperson said the money was paid from the firm’s balance sheet.

Anyways, below are a few other highlights from my initial skim, as well as the entire document. We’ve posted a more in-depth take on the “humbling” report here.

Carlyle Group’s fundraising activities for ’08 and early ’09 is as follows:

In 2008 and early 2009, despite the challenges in the markets, Carlyle raised $19.9 billion in new capital to deploy. This includes final closes on 10 funds, including Carlyle Partners V, L.P. at $13.7 billion; Carlyle Europe Technology Partners II, L.P. at €530 million; Carlyle MENA Partners, L.P. at $500 million; Carlyle Europe Real Estate Partners III, L.P. at €2.2 billion; Carlyle Mezzanine Partners II, L.P. at $553 million; Carlyle Strategic Partners II, L.P. at $1.35 billion; our thirteenth
and fourteenth U.S. loan funds at $500 million and $80 million; and two European loan funds at €1.5 billion and €401 million.

Meanwhile the company had three bankruptcies; Edscha, out of Carlyle Europe Partners LP, SemGroup, out of Carlyle/Riverstone GLobal Energy and Power Fund II, and Hawaiian Telecom, out of Carlyle Partners III. And of course there’s the liquidations of Carlyle Capital Corp. and Carlyle Blue Wave.

CARLYLE 2008 Annual Report