By Anil D'Silva
Feb 27 The founders of private equity firm
Carlyle Group LP each received $92.9 million in dividends
and salaries in 2013, a regulatory filing showed, up from $57.6
million in 2012.
David Rubenstein, William Conway and Daniel D'Aniello, who
founded Washington, D.C.-based Carlyle in 1987 and are now in
their sixties, forfeited their bonuses for the second
consecutive year. ()
They received $92.6 million each from their individual 15.4
percent stakes in Carlyle, according to Reuters calculations
based on a declared dividend of $1.97 per Carlyle Holdings unit.
They also received $281,375 each in executive pay.
Carlyle's distributable income rose about 22 percent to $840
million in 2013. The firm said earlier this month that
fourth-quarter earnings more than tripled as the value of its
funds and asset sale profits soared.
Buoyant capital markets boosted the value of the companies
held by Carlyle's funds, helping it to cash out on more
investments and return money to investors.
Rubenstein received $108.1 million, Conway $252.8 million
and D'Aniello $109.5 million from Carlyle's funds in 2013 as a
result of investing alongside the firm's clients, the filing
lodged with the U.S. Securities and Exchange Commission showed
on Thursday. Rubenstein invested $98.3 million, Conway $207.4
million and D'Aniello $110.6 million.
In total, Carlyle employees invested $1.1 billion of their
own money in the firm's deals in 2013, bringing their total
amount of co-investment to $7 billion.
KKR & Co LP founders Henry Kravis and George Roberts
received $161.4 million and $165.5 million respectively in cash
dividends and executive pay in 2013, more than 17 percent above
what they received in 2012.
Carlyle shares, which have risen 18.4 percent in the past
year, closed at $37.71 on the Nasdaq on Wednesday.