Carlyle Group gets closer to IPO
Private equity giant Carlyle Group is moving closer to an initial public offering, and could raise around $1bn based on what banks are pitching, one source familiar with the process said last night. Carlyle was valued at $20bn in September 2007, when an investment unit of the Abu Dhabi government bought a 7.5 per cent stake in the company, before the credit crisis sent stock markets sliding.