The Carlyle Group, a leading global asset manager that oversees more than $150 billion in assets, announced plans on Tuesday for an initial public offering (IPO) on the stock market.
The Washington-based firm set a tentative target to raise $100 million from the share offering in its registration statement with the US Securities and Exchange Commission.
"Carlyle intends to use the net proceeds from the offering to repay indebtedness and for general corporate purposes, including general operational needs, growth initiatives, acquisitions and strategic investments and to fund capital commitments to, and other investments in and alongside of, its funds," the company said in a statement.
Carlyle did not give a date for the IPO, and it said the number of common units to be offered and the price range for the offering had not yet been determined.
The Wall Street Journal, citing an unnamed source, reported that Carlyle was aiming for a listing in the first half of 2012, which would help it avoid being hammered by the current stock-market volatility.The company first considered an IPO in 2007 but its plans were derailed by the onset of the global financial crisis.With its IPO, Carlyle will join an array of private-equity giants that have listed on the stock market in recent years, including Blackstone, KKR, Fortress Investment Group and Apollo Global Management.
Founded in 1987, Carlyle has expanded beyond its roots as a private-equity firm to encompass real estate funds, hedge funds and other kinds of investment vehicles.
It operates in Africa, Asia, Australia, Europe, the Mideast and North and South America, with investments in more than 200 portfolio companies that employ over 600,000 people, according to the firm.
Sectors that the firm has investments in include aerospace, defense, energy, consumer goods, financial services, telecommunications and transportation.
Carlyle has more than 1,100 employees in 22 countries.