2010 Annual Report - The Carlyle Group

More documents

Recommendations

Info

Expanding our range and depth of our expertiseWe gain experience in new and emerging investment areas by recruiting strong teamswith track records of their own. For example, our Global Market Strategies operationsare headed by Michael J. Petrick, who is also a member of Carlyle’s OperatingCommittee. Mr. Petrick joins Carlyle after a 20-year career at Morgan Stanley, where hewas Managing Director and Global Head of Institutional Sales and Trading.Likewise, our new Energy Mezzanine team—launched in 2010 to focus on energy mezzaninedebt investments to tap into increasing global demand for energy and power—isled by Managing Director David W. Albert and Principal Rahul Culas. Prior to joiningCarlyle, Messrs. Albert and Culas worked together at Morgan Stanley, along with Mr.Petrick. Mr. Albert was a Managing Director and Global Head of Morgan Stanley’sProject and Structured Finance Group, and Mr. Culas was an Executive Director.In South America, our buyout team is led by Fernando Borges, who previously participatedin 12 investments in the region as a Managing Director at AIG Capital Partnersand CEO of AIG Capital Investments do Brasil.In 2010, we established a new U.S. Equity Opportunities team to target opportunitiesin middle-market private equity across Carlyle’s nine core Corporate Private Equityindustries. The team is led by Rodney S. Cohen, who comes to Carlyle from PegasusCapital Advisors, a middle-market investment firm, where he was a Co-ManagingPartner. Mr. Cohen will partner with Carlyle Managing Director Brooke B. Coburn, a15-year Carlyle veteran.Leveraging our experience to acquire a portfolio oflandmark properties in LondonIn Europe, our core real estate team has worked together for 15 years. In 2010, this experiencepaid off when the group made a major new addition to its portfolio by acquiring theWhite Tower portfolio of properties for a total of £671 million. The portfolio comprises sixlandmark, income-producing office properties totaling in excess of 155,000 square metersthat generate more than £62 million in rent each year. The properties are well located in thecenter of the City of London and along the riverside south of the River Thames, an area thathas seen major redevelopment in recent years.Robert HodgesManaging DirectorCarlyle Europe Real46 The Carlyle groupEstate PartnersThis acquisition provides a rare opportunity to make a significant investment in the Londonoffice market and to benefit from the projected strong rental growth in the city. It’s also anexcellent example of our strategy of making long-term investments in landmark assets instrategically important European centers. While each property benefits from an existingsecure income profile, there are also considerable longer-term opportunities for activeasset management and redevelopment, where we believe we can apply our real estate experienceto add significant value.
section four ExperienceBuilding upon OUR DEEP EXPERIENCE TO EXPAND, DIVERSIFY, INNOVATEFor nearly 25 years, our deep experience in 11 core industries has produced a track record of performance and resulted in enduringconfidence from our global investors. Our focus on industries that we know well has enabled us to expand from our core U.S. operationsand diversify and innovate into a broader range of funds, investment disciplines and geographies—creating one of the world’slargest and most diversified alternative asset management firms with 84 funds across three segments.Real Estate459 investmentsTech & Business Services145 investmentsEnergy & Power74 investmentsTelecom & Media55 investmentsIndustrial39 investmentsHealthcare38 investmentsConsumer & Retail36 investmentsAerospace & Defense29 investmentsTransportation18 investmentsFinancial Services12 investmentsInfrastructure4 investmentsA focus on 11 core industries provides a strong foundation for growth(Corporate Private Equity and Real Assets Investments since 1987)Putting our experience to workto add value to Vought AircraftOur considerable experience in the aerospace anddefense sector has enabled Carlyle to invest some$3.5 billion of equity in 29 Corporate Private Equitytransactions in the sector since 1987. We put ourexperience to work with Vought Aircraft Industries,overseeing the acquisition of the AerostructuresCorp. in 2003, instituting a new management team,streamlining operations and then selling Vought’s newworld-class facility for 787 production to Boeing.Adam J. PalmerManaging Director andHead of the Global Aerospaceand Defense TeamDuring our period of ownership, Vought was the largestindependent developer and producer of structuralassemblies for commercial, military and businessaircraft. Last year, Carlyle sold Vought to aircraftcomponents maker Triumph Group in a transactionworth $1.44 billion.The Carlyle group 47
Page 1: GLOBAL ALTERNATIVE ASSET MANAGEMENT
Page 6 and 7: Diversificationcreates opportunityO
Page 8 and 9: Experienceto invest wiselyOur stron
Page 10 and 11: Collaborationdefines our cultureOur
Page 12 and 13: Daniel A. D’AnielloCo-Founder and
Page 14 and 15: Carlyle’s Operating Committeecomp
Page 16 and 17: How is Carlyle different?We have th
Page 18 and 19: Our culture ofperformance hasenable
Page 20: Improving performance in the health
Page 23 and 24: section one PerformanceOur teams id
Page 26 and 27: We apply creative thinkingand innov
Page 28: Fund of Funds. We expect to add Fun
Page 31 and 32: section TWO innovationThe Carlyle g
Page 33 and 34: section TWO innovationCorporate Cit
Page 35 and 36: section Three diversificationOur fo
Page 37 and 38: section Three diversificationMedica
Page 39 and 40: section Three diversificationGrowin
Page 41 and 42: section Three diversificationin the
Page 43 and 44: section Three diversificationFund-o
Page 45 and 46: section Three diversificationGrowth
Page 47: section four ExperienceNavigating c
Page 52 and 53: We encourage a high degreeof collab
Page 54 and 55: The value of collaborationCollabora
Page 56 and 57: Deep industry experience applied gl
Page 58 and 59: We are keenly awareof our responsib
Page 60: To strengthen our ties to the commu
Page 63 and 64: our / purposeInvest wisely. Create

2010 Annual Report - The Carlyle Group

Create successful ePaper yourself

Delete template?

Save as template?