34.25 0.00 (0.00%)
After hours: 5:07PM EST
|Bid||31.71 x 900|
|Ask||35.69 x 900|
|Day's range||33.43 - 34.70|
|52-week range||15.21 - 37.81|
|Beta (5Y monthly)||1.36|
|PE ratio (TTM)||35.31|
|Earnings date||28 Apr 2021 - 03 May 2021|
|Forward dividend & yield||1.00 (2.90%)|
|Ex-dividend date||12 Feb 2021|
|1y target est||40.32|
(Bloomberg) -- Carlyle Group Inc. has hired Roger Cozzi as head of real estate credit, as the asset manager expands in the space citing increased opportunities and strong investor interest.Cozzi, former chief investment officer for commercial real estate debt at AllianceBernstein, will report to Alex Popov, head of Carlyle’s illiquid credit business, in the newly created role, according to an internal memo.A Carlyle spokeswoman confirmed the contents of the note.Phil Moore, a managing director on Carlyle’s credit opportunities team in London, will join Cozzi in the build-out, while continuing to invest in opportunistic and illiquid credit, according to the memo. Moore has been leading real estate deals within illiquid credit since joining Carlyle in 2018.“Given the increase in opportunities we’re seeing and given growing investor interest in this asset class, we believe now is the right time for us to pursue a dedicated strategy focused specifically on this area,” Mark Jenkins, Carlyle’s head of global credit, said in the memo. The firm’s credit platform has invested about $1 billion in real estate credit since 2017.Before AllianceBernstein, Cozzi served in real estate finance roles at Gramercy Capital Corp. He also previously worked at Fortress Investment Group, Starwood Capital Group and Goldman Sachs Group Inc.Prior to joining Carlyle, Moore was a managing director at HPS Investment Partners focused on real estate investment in Europe, according to Carlyle’s website.Under Jenkins, Carlyle invests across liquid, illiquid and real asset credit strategies with $56 billion in assets under management globally, according to the firm’s website.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Carlyle Group Inc. is embarking on a multi-year plan to supercharge growth and raise more than $130 billion.Senior managers led by Chief Executive Officer Kewsong Lee will lay out their strategy Tuesday during the firm’s first investor day since 2013. The team will be tasked with expanding core businesses and meeting new financial targets.Carlyle, which oversees $246 billion, has continued to evolve since its founders stepped back in 2018. Lee became sole CEO last year after counterpart Glenn Youngkin stepped down to pursue a career in politics. Last month, Carlyle said it was streamlining the company, reducing four business segments to three and focusing on areas with the most growth potential.“We are thinking bigger, performing better and moving faster to position Carlyle to deliver higher returns for our shareholders,” Lee, 55, said in an emailed statement. “We have tremendous confidence in this strategic plan and hope all of our stakeholders appreciate our commitment to transparency as we evolve and build the firm.”Carlyle aims to hit its $130 billion fundraising target by 2024. That money is expected to be drawn from existing groups like global credit and private equity, which now include bets in real estate and natural resources. The firm’s last buyout fund was its biggest ever, at $18.5 billion. Carlyle is expected to begin raising money for a new flagship buyout fund this year, according to people familiar with the matter.But senior leaders at the Washington-based alternative asset manager see even more opportunity to raise cash by bringing in new products and expanding strategies in insurance and infrastructure. The firm hired Macky Tall, who led the infrastructure group at Canada’s second-largest pension fund, at the end of last year.Read more: Carlyle Adds Caisse’s Tall to Help Lead Infrastructure ExpansionMuch of Carlyle’s recent dealmaking has been focused on the technology and health-care industries. Its investment portfolios have performed well during the pandemic, posting gains across all business units last quarter. Private equity funds rose 11%, with credit and investment-solutions funds up 7%. The firm brought in $27.5 billion in capital last year.Carlyle will also announce Tuesday that it plans to more than double distributable earnings to at least $1.6 billion.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Japan's software company WingArc1st Inc, which is backed by U.S. buyout firm Carlyle Group Inc, on Thursday launched an initial public offering (IPO) worth up to 18.2 billion yen ($171.8 million), a regulatory filing showed. The Tokyo-based WingArc1st, which develops and sells business software, will list on the Tokyo Stock Exchange on March 16, according to the filing with the Ministry of Finance. That is the third attempt by Carlyle to float the company, and a successful listing would be the first time an IPO that had failed twice in Tokyo was eventually completed.