Bain Capital co-founder Mitt Romney’s track record may be the biggest story on the campaign trail, but there is more news in the private equity world with one of his old firm’s competitors offering fresh details on its bid to go public Tuesday.
Carlyle Group, the PE firm founded by billionaires William Conway, Daniel D’Aniello and David Rubenstein, filed a revised S-1 with the SEC that says it plans to list its shares on the Nasdaq under the symbol “CG.” That marks a departure from the path taken by its publicly-traded rivals, as shares of Blackstone Group, Apollo Global Management and Fortress Investment Group all trade on the NYSE.
The IPO of Carlyle, which is being led by underwriters JPMorgan Chase, Citigroup and Credit Suisse, comes as many companies that it and its ilk took private in years past are also preparing for public listings.
If the market for new offerings opens up in 2012 — and it did not have a great finish to 2011 — PE-backed names like Avaya, Toys R’ Us and Party City could be among those that make their debuts.
The most hotly-anticipated new listing remains Facebook, as investors wait for a filing from the social network that is anticipated to make its public debut in 2012. For a deeper look at what to expect from the market for new public companies, see The IPO Class Of 2012: Facebook And Beyond.
As Forbes contributor Laurie Bennett notes, the revised IPO filing also details compensation for Carlyle’s billionaire trio, showing that Conway, D’Aniello and Rubenstein each pocketed about $138 million in 2011.
The Carlyle co-founders also made headlines around the holidays with their video wishes for a happy and healthy New Year. Watch below:
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