The New York Times reports that the executives, including William E. Conway Jr. and Daniel A. D’Aniello, two of Carlyle’s three founders, plan to sell 7.5m common units of Carlyle, according to a filing on Monday. Carlyle itself is selling 4.5m common units in the offering.
At a price of $36.27 a unit, the closing price on Friday, the offering of 12m shares would raise $435.24m before expenses, according to the filing. The underwriters have the option to sell an additional 1.8m shares, the filing said.
For the executives, the offering is their first opportunity to cash out of some of their holdings since Carlyle went public in 2012. The insiders all refrained from selling shares in the initial public offering, trying to align their interests with the investors in their funds.
To access the complete New York Times article hit the link below:
image: © Valerie Everett