More IPOs for PE Fund Managers: Oaktree and Carlyle


April 16, 2012

Two more IPOs for PE fund managers are in the works. Oaktree Capital Group, a distressed-debt PE fund manager will launch a USD 517.5 million IPO, reports Bloomberg. It will precede Carlyle Group LP’s IPO, which is planned later this year. The two founders of Oaktree are the main sellers of a 40% share in the company. Carlyle is only selling a 10 percent stake in the IPO, with existing owners retaining 90 percent, according the report.

The post-IPO track record for PE firms is not that great, says the Bloomberg report, particularly for those that went public between 2007 and 2009. Blackstone Group which floated in 2007 is now trading at half its IPO price, while Fortress Investment Group has declined by 80 percent and Apollo Global Management has also lost value in the meantime. Only KKR is up since its IPO in July 2010

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