The Carlyle Group is a private equity firm based in Washington, D.C. It has a reputation as a highly secretive, politically connected investor with particular expertise in the defense sector, among others. It has 64 funds investing in buyouts, growth capital, real estate and leveraged finance. Fund investments range across diverse sectors, from automotive to telecom.
Among the luminaries on its current and former roster: former U.S. president George H.W. Bush, former U.S. Securities and Exchange Commissior Arthur Levitt Jr., ex-IBM chief Lou Gerstner and former U.S. Defense Secretary Frank C. Carlucci.
Instead of going public as once planned, the firm cut back amid the downturn, announcing staff cuts of 10% staff and closing its Silicon Valley office. Its publicly traded affiliate, Carlyle Capital Corp., liquidated a hedge fund invested in mortgage-backed securities as the housing market collapsed. The firm recently raised a new $14 billion buyout fund. Carlyle, the largest PE investor in China, continues to expand there and recently raised a PE fund in the Chinese currency.
The company has 45 native Chinese working for it, many of whom were educated in the U.S. While the firm declined to comment on its hiring plans, it is dedicated to expanding there. "We can't invest enough money in China," managing director David Rubinstein has said.
Hiring of investment pros is decentralized at The Carlyle Goup, with each fund doing its own staffing.