2010 Annual Report - The Carlyle Group

Carlyle Asia Growth Partners is focused on private high-growth companies with stronglocal management teams and established market positions in China, India and SouthKorea. In 2010, Carlyle Asia Growth Partners IV, L.P. made five investments totalingmore than $164 million in equity, illustrating the fund’s continued strong investmentactivity across Asia. In addition, Nantong Rainbow Heavy Industries completed anIPO, raising approximately $210 million.39 fundsNumber of funds managed byGlobal Market StrategiesGlobal Market StrategiesAn Expanding Array of Options. Carlyle’s Global Market Strategies platform comprisesan array of structured credit, mezzanine, distressed and hedge fund options. As ofDecember 31, 2010, Global Market Strategies includes 39 funds with $20.6 billion ofassets under management. In 2010, we significantly enhanced the scale and diversityof our Global Market Strategies offerings by expanding our business. We also formeda new team to target mezzanine debt opportunities in the energy and power space inNorth America.Structured Credit (CLO). Our structured credit group invests primarily in performingsenior secured bank loans through CLOs and other structures. The group manages32 funds in Europe and the United States, accounting for approximately $13 billionin assets under management.Corporate Mezzanine. Carlyle Mezzanine Partners invests in debt and equity securitiesof leveraged buyouts, recapitalizations and growth financings. In 2010, CarlyleMezzanine Partners II, L.P. made two investments to facilitate acquisitions: one inAltegrity, an information and security services company for governmental and commercialcustomers, and the other in INC Research, a provider of outsourced clinicaltrial services to pharmaceutical and biotechnology companies.Carlyle Strategic Partners. Carlyle Strategic Partners invests in the debt and equityof operationally sound, financially distressed companies in Carlyle’s core industriesaround the world.“Scale is critical to the CLObusiness. The purchase ofthe Stanfield and MizuhoCLO contracts establishesCarlyle as one of theworld’s largest structuredcredit managers.”Linda PaceManaging Directorand Head of U.S.Structured Credit36 The Carlyle group