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Carlyle Sells P&I

The Carlyle Group sold its 66.64% holding in Personal & Informatik (P&I) last Thursday to thirty-five institutional investors in Europe and the the US through a book-building process managed by Berenberg Bank.

Carlyle's two representatives on the P&I supervisory board will step down at its AGM.

Michael Wand, a managing director at Carlyle Group, was of the opinion that P&I had achieved the private equity group's investment targets.

He said: “P&I has achieved strong growth during our three year holding period: 185% increase in EBIT, 36% increase in revenues, 50% increase in license revenues and an 18% increase in headcount.

“These efforts also resulted in a three-fold increase in share value to all public shareholders.”