Profile: Carlyle Group LP (CG.O)
15 Dec 2017
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), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Across its Corporate Private Equity and Real Assets segments, as of December 31, 2016, it had investments in more than 270 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. As of December 31, 2016, its 30 active CPE funds were each carry funds. As of December 31, 2016, the Company had 52 active external co-investment entities. The Company's CPE segment focuses on primary areas, including buyout funds and growth capital funds. As of December 31, 2016, the buyout teams advised a diverse group of 20 active funds that invested in transactions that focused 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. As of December 31, 2016, the Company's 10 active growth capital funds were advised by 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. As of December 31, 2016, its CPE segment had invested in 565 investments.
As of December 31, 2016, the Real Assets segment advised its 26 active carry funds focused on real estate, infrastructure and energy and natural resources (including power), and also included the five NGP Energy Capital Management (NGP) management fee funds and three carry funds that were 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. As of December 31, 2016, Real Estate operations included 10 active real estate funds, which pursued real estate investment opportunities in Asia, Europe and the United States that focused on acquiring single-property assets rather than large-cap companies with real estate portfolios. As of December 31, 2016, it had more than 750 investments in 338 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, energy and oilfield services sectors, the renewable and alternative sectors, and the power and infrastructure 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.
Global Market Strategies
As of December 31, 2016, the Global Market Strategies segment advised a group of 57 active funds that pursue investment strategies, including leveraged loans and structured credit, energy mezzanine opportunities, middle market lending and distressed debt. Primary areas of focus for its GMS credit platform include Loans and Structured Credit, distressed credit, private credit and energy credit. The Company's structured credit funds invest primarily in performing senior secured bank loans through structured vehicles and other investment vehicles. The distressed credit 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 private credit business comprises its business development companies (BDCs), which invest primarily in middle market first-lien loans (which include unitranche, first out and last out loans) and second-lien loans, a collateralized loan obligation (CLO) 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. Its energy credit team invests primarily in privately-negotiated mezzanine debt investments in North American energy and power projects and companies.
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 makes 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. Funds managed by AlpInvest acquire limited partnership interests in the secondary market. As of December 31, 2016, it had advised 26 real estate vehicles. It also focuses on real estate secondaries and coinvestments.
Carlyle Group LP
1001 Pennsylvania Ave NW
WASHINGTON DC 20004-2505
Company Web Links
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