Profile: Carlyle Group LP (CG.O)
2 Dec 2016
The Carlyle Group L.P., incorporated on July 18, 2011, is a diversified multi-product global alternative asset management firm. The Company advises on various investment funds and other investment vehicles that invests across a range of industries, geographies, asset classes and investment strategies, and seeks to deliver returns for its fund investors. The Company operates in four segments: Corporate Private Equity (CPE), Global Market Strategies (GMS), Real Assets and Investment Solutions. Across its Corporate Private Equity and Real Assets segments, it has investments in over 250 active portfolio companies.
Corporate Private Equity
The Corporate Private Equity segment advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials. Its approximately 30 active CPE funds are each carry funds. In the CPE segment, the Company has approximately 60 active external co-investment entities. The Company's CPE segment focuses on primary areas, including buyout funds and growth capital funds. The buyout teams advise a diverse group of over 20 active funds that invest in transactions that focus either on a particular geography, such as the United States, Europe, Asia, Japan, Middle East and North Africa (MENA), Sub-Saharan Africa or South America or a particular industry. The Company's approximately 10 active growth capital funds are advised by approximately four regionally focused teams in the United States, Europe and Asia, with each team generally focused on middle-market and growth companies consistent with specific regional investment considerations. Its CPE segment has invested in approximately 540 investments, including over 260 investments in North and South America, over 120 investments in Europe, the Middle East and Africa, and over 150 investments in the Asia-Pacific region.
Global Market Strategies
The Global Market Strategies segment advises a group of approximately 70 active funds that pursue investment strategies, including leveraged loans and structured credit, energy mezzanine opportunities, middle market lending, distressed debt, long/short credit, long/short emerging markets equities, macroeconomic strategies, commodities trading and commodity structured transactions. Primary areas of focus for its GMS teams include structured credit funds, distressed and corporate opportunities, middle market finance, energy mezzanine opportunities, long/short credit and emerging market equity and macroeconomic strategies, and commodities. The Company's structured credit funds invest primarily in performing senior secured bank loans through structured vehicles and other investment vehicles. The distressed and corporate opportunities funds invest in liquid and illiquid securities and obligations, including secured debt, senior and subordinated unsecured debt, convertible debt obligations, preferred stock, and public and private equity of financially distressed companies in defensive and asset-rich industries. The middle market finance business comprises its business development companies (BDCs), which invest primarily in first lien loans and second lien loans, a collateralized loan obligations (CLOs) consisting of middle market senior, first lien loans, and its corporate mezzanine funds, which invest in the first-lien, second-lien and mezzanine loans of middle-market companies, typically defined as companies with earnings before interest, taxes, depreciation and amortization (EBITDA).
The Company's energy mezzanine opportunities team invests primarily in privately negotiated mezzanine debt investments in North American energy and power projects and companies. Claren Road Asset Management LLC (Claren Road) advises over two long/short credit hedge funds focusing on the global high grade and high yield markets. Emerging Sovereign Group LLC (ESG) advises approximately six emerging markets equities and macroeconomic hedge funds. Carlyle Commodity Management (CCM), a New York-based commodities investment manager serves as an investment manager to approximately five hedge funds and over two structured products.
The Real Assets segment advises its approximately 30 active carry funds focused on real estate, infrastructure and energy and natural resources (including power), and also includes over six NGP Energy Capital Management (NGP) management fee funds and approximately three carry funds that are advised by NGP. The Real Assets segment pursues investment opportunities across a range of tangible assets, such as office buildings, hotels, retail and residential properties, industrial properties and senior-living facilities, as well as oil and gas exploration and production, midstream, refining and marketing, power generation, pipelines, wind farms, refineries, airports, toll roads, transportation, water utility and agriculture, as well as the companies providing services or otherwise related to them.
The Real Assets teams have approximately two primary areas of focus, including real estate, and energy and natural resources. Real Estate operations include over eight active real estate funds, which pursue real estate investment opportunities in Asia, Europe and the United States that focuses on acquiring single-property assets rather than large-cap companies with real estate portfolios. It has over 670 investments in approximately 320 cities/metropolitan statistical areas around the world, including office buildings, hotels, retail and residential properties, industrial properties and senior living facilities. Its energy and natural resources activities focus on buyouts, growth capital investments and strategic joint ventures in the midstream, upstream, power and oilfield services sectors, the renewable and alternative sectors, and the energy and power industries around the world. The Company conducts its North American energy investing through a partnership with NGP, an Irving, Texas-based energy investor. Its international energy investment team focuses on investments in a range of energy assets outside of North America. The Company's power team focuses on investment opportunities in the North American power generation sector.
The Investment Solutions segment provides investment opportunities and resources for its investors and clients to build private equity and real estate portfolios through fund of funds, secondary purchases of existing portfolios and managed coinvestment programs. Investment Solutions executes its activities through AlpInvest, investors in private equity, and Metropolitan, managers of indirect investment in global real estate. The primary areas of focus for its Investment Solutions teams include private equity fund investments, private equity co-investments, private equity secondary investments and real estate, funds of funds and co-secondary investments. Its fund of funds vehicles advised by AlpInvest make investment commitments directly to buyout, growth capital, venture and other alternative asset funds advised by other general partners. AlpInvest invests alongside other private equity and mezzanine funds in which it typically has a fund investment throughout Europe, North America and Asia. The Company, through AlpInvest, manages funds that acquire limited partnership interests in secondary market transactions. It has advised approximately 30 real estate fund of funds. It also focuses on real estate secondaries and coinvestments.
Carlyle Group LP
1001 Pennsylvania Ave NW
WASHINGTON DC 20004-2505