Carlyle Issues Annual Report
For the second time, Carlyle Group has made its annual report available to the public. I haven't had time to fully examine the entire 64 pages of it, but I did notice the obvious--it doesn't give us specific write-up and write-down numbers (maybe I overlooked them?). The report does not make mention of the firm's newly adopted Cuomo code of conduct or conspicuously avoid mention of the $20 million settlement it paid to the state of New York, as I had mistakenly written here earlier (rather, it lists the Private Equity Council Code). The reason it doesn't make mention of these things because the report was at the printer when they happened, I'm told. Also, I previously wrote, I was curious as to which pocket of capital that $20 million fee came from. Carlyle's spokesperson said the money was paid from the firm's balance sheet. Anyways, below are a few other highlights from my initial skim, as well as the entire document. We've posted a more in-depth take on the "humbling" report here.
