Private equity giant Carlyle to convert to a C-Corp corporation
Carlyle will now pay corporate taxes on all its revenue, and have annual meetings for shareholders to cast votes, although insiders own 66% of the company
31 July 2019 - 18:43
New York — Carlyle Group emulated its peers on Wednesday with plans to convert from a publicly traded partnership into a corporation, and went one step further by announcing it will become the first US private equity firm to hold shareholder votes.
The corporate governance changes will have limited impact on how the Washington, DC-based firm runs its affairs, given that it will continue to be controlled by its founders and employees for the foreseeable future. Insiders own 66% of Carlyle, and the vast majority of them have committed to voting their shares as a block for up to five years, the firm said...
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