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Carlyle Announces Offering Of Common Units

Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG) today announced that it has filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of 12,000,000 common units. Carlyle expects to grant the underwriters a 30-day option to purchase up to an additional 1,800,000 common units. Carlyle intends to use the net proceeds from the issuance and sale of 4,500,000 common units (approximately $158.5 million based on an assumed public offering price of $36.27 per common unit – the last reported sale price of Carlyle’s common units on the NASDAQ Global Select Market on February 28, 2014) for general corporate purposes, including investments in its funds as well as investment capital for acquisitions of new fund platforms and strategies or other growth initiatives to drive innovation across the broader Carlyle platform. Carlyle intends to use the net proceeds from the issuance and sale of 7,500,000 common units (approximately $264.2 million based on an assumed public offering price of $36.27 per common unit), or 9,300,000 common units (approximately $327.7 million based on an assumed public offering price of $36.27 per common unit) if the underwriters exercise in full their option to purchase additional common units, to purchase from certain holders, including certain of Carlyle’s directors and executive officers, an equivalent number of outstanding Carlyle Holdings partnership units.

J.P. Morgan, Citigroup, Goldman, Sachs & Co., BofA Merrill Lynch and Credit Suisse Securities (USA) LLC will serve as joint book-running managers for this offering. When available, copies of the preliminary prospectus relating to the offering may be obtained from J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-800-831-9146 or emailing a request to batprospectusdept@citi.com; Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, (Tel: 866-471-2526), Email: prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, New York 10038, E-mail: dg.prospectus_requests@baml.com; and Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, or by telephone at 1-800-221-1037.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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