- Carlyle Group 's (NASDAQ:CG) new co-CEOs, Kewsong Lee and Glenn Youngkin, who took over managing more than $200B of assets under management from the private-equity firm's co-founders in January, foresee major changes in the private-equity industry, Bloomberg reports.
- With the number of initial public offerings declining in the past 10-15 years, Lee sees private-equity firms taking on a bigger role in the global economy. " Who wants to be a public company these days if you can get more money from us on great terms?" he asks.
- Youngkin sees CG transforming into a company more dependent on its culture of excellence than the few people at the top so that in 10 years' time "the firm won’t be about two individuals who founded it or are running it."
- Previously: Carlyle Group bolsters southeast Asia PE operations with two hires (May 23)
- Now read: 50 Financial Sector WallStars Yield 4.55-13.8% With Target Gains Of 10.7-40%
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