Rubenstein Doesn’t See Sovereign Wealth Funds Pulling Back From Private Equity
Carlyle Group Co-CEO David Rubenstein highlights that not all limited partners are paying the same fees. Larger limited partners who commit more capital or commit early in the fundraising process typically receive fee discounts. This type of fee negotiating is not unique to the Carlyle Group, but to other private equity firms like CVC Capital.
Another private equity trend is the gradual change in the capital base of limited partners. U.S. public pension funds historically have been the biggest source of capital for large private equity firms like the Carlyle Group, Apollo Global and the Blackstone Group. As sovereign wealth funds continue to grow, the private equity industry will shift to accommodate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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