Global investment firm The Carlyle Group announced it has completed its previously announced conversion to a corporation from a publicly traded partnership.
“We are pleased to have completed our conversion to a corporation,” said Carlyle Co-CEOs Kewsong Lee and Glenn Youngkin. “We believe our structure and approach, which is simple, transparent in governance, and aligned with our investors, sets the stage for Carlyle to further drive sustainable value over the long-term for our shareholders.”
Existing Carlyle shareholders will receive a final Schedule K-1 in late March 2020. Following the conversion, distributions will generally be dividends for U.S. tax purposes and shareholders will receive a Form 1099-DIV.
With $222 billion of assets under management as of Sept. 30, 2019, Carlyle’s stated purpose is to invest wisely and create value on behalf of its investors, portfolio companies and communities.
