That just 12 . Acquirer. In 2015, The Carlyle Group was the world's largest private equity firm, based on capital raised over the previous five years, although it has since slipped into second place. Investguiding is a website that writes about many topics of interest to you, a blog that shares knowledge and insights useful to everyone in many fields. Specialist in multi-platform initiatives within advertising . The Carlyle Group is a global private equity firm that caters to early and later stage companies. The firm, which at the time managed about $147 billion of assets, raised $671 million in the offering. As the money flowed, Carlyle's founders and junior partners such as Clare. [52], On June 2, 2020, The Carlyle Group and T&D Holdings reported that they had concluded their purchase of a 76.6% stake in Fortitude Group Holdings, the latter of which comprises Fortitude Re, and American International Company Inc.[53] Also in June 2020, Unison had been purchased by the Carlyle Group and Unison management strategic investment company. Cool Tourists. Through our scale and extensive reach, our team is able to deliver a truly global platform. Carlyle Group (CG) Stock Price Performance, Total Enterprise Value to Total Revenue (ttm). Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone. According to company history, Acosta had $500,000 in revenues and just 26 employees in 1974. [63], In November 2022, it was announced The Carlyle Group has acquired the international marketing agency, Incubeta. Dainese acquired by Carlyle Group for 630 million", "Carlyle Agrees to Buy US Government Contractor ManTech for $3.9 Billion", "Carlyle's acquisition of Abingworth brings $2 billion to fuel life science investments", "Global Investment Firm Carlyle to Acquire International Marketing Agency Incubeta", "Deals & Deal Makers: Calpers Buys 5% Stake in Carlyle Group For $175 Million, Invests in Some Funds", "Government of Abu Dhabi Buys Stake in Carlyle", "Carlyle to Sell Stake to a Mideast Government", "Bill limiting CalPERS, CalSTRS investments withdrawn", "Carlyle Group Form 10-Q (Quarterly Report) March 2018", "Carlyle to buy up to $4.8 billion stake in Cepsa from Abu Dhabi's Mubadala", "Carlyle Capital Corporation Intends to File for Compulsory Winding up in Guernsey", "Carlyle Capital in default, on brink of collapse", "Carlyle Founders Consider Cash Infusion", "Fed Hopes to Ease Strain on Economic Activity", "The Companies (Guernsey) Laws, 1994 To 1996, As Amended", "Carlyle Capital Corporation Intends To File For Compulsory Winding Up In Guernsey", "CCC's Woes Seen as Small Blemish for Carlyle Group", "Carlyle executives exonerated over collapsed bond fund", "Factual Back-Up for Fahrenheit 9/11: Section Four", "Bin Laden Family Could Profit From a Jump In Defense Spending Due to Ties to U.S. Bank", Private investment in public equity (PIPE), Taxation of private equity and hedge funds, Private equity and venture capital investors, https://en.wikipedia.org/w/index.php?title=The_Carlyle_Group&oldid=1142434140, Financial services companies established in 1987. The Retail, Wholesale and Department Store Union (RWDSU), yesterday said that, at REI Inc. in Cleveland, Ohio, have voted to join the RWDSU, making this the third unionized REI store in the U.S. Carlyle has been profiled in Michael Moore's Fahrenheit 9/11 and William Karel's The World According to Bush. Carlyles Acosta train wreck, in fact, is not an isolated event. At the end of September 2020, Youngkin retired from the firm, stating his intention to focus on community and public service efforts; this left Lee as sole CEO. The Carlyle Group is a private global investment firm which originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity. Companies. They acquired VLCC Healthcare for $300M. We work hard to cultivate diverse and inclusive teamswith diverse perspectives, knowledge bases, interests and cultural identitieswho can examine ideas from every angle to generate competitive business insights and make better decisions. George W. Bush had invested $10 million in one Carlyle Group which employed him before he became the Governor of Texas. But Carlyle was not the only private equity firm that had plans for the food industry. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. Partners and managing directors have an average of $22m. State Street Global Advisors. Since our founding over 30 years ago, we have always looked to create lasting partnerships across all of our businesses. [59][60], In March 2022, The Carlyle Group acquired Dainese - an Italian motorcycle kit and clothing company from Investcorp. [13] Carlyle sold Magnavox for about $370 million to Hughes Aircraft Company in 1995. The acquisition aimed to increase the firms steady stream of recurring revenue. The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. Pages in category The Carlyle Group companies. According to Forbes, Rubenstein had a net worth of US$4.3 billion as of October 2021. Working at the Carlyle Group has been a truly enjoyable experience. Carlyle Group Inc's stock is NA in 2023, NA in the previous five trading days and down 25.1% in the past year. (Video) Kewsong Lee, Co-CEO of The Carlyle Group, (Video) David M. Rubenstein, Co-Founder and Co-Executive Chairman, The Carlyle Group, (Video) Distinguished Speaker Series: David Rubenstein - Co-Founder and Co-CEO, The Carlyle Group, (Duke University - The Fuqua School of Business), (Video) How The Carlyle Group is Navigating the Crisis, (Video) HALB Private Equity Roundtable | David M. Rubenstein of The Carlyle Group. Supreme, the skateboard apparel manufacturer, sold an approximately 50 percent stake in the company to private-equity firm Carlyle Group LP for about $500 million. It didnt help that 30-year Acosta veteran and CEO, Robert Hill, decided to step down in 2016 and Carlyle, together with Acostas board, chose to replace him with two outsiders. The buyers were forced to pay an extra $800 million because KKR made a last-minute bid as the original deal was about to be signed. The Denver-based retail group and the New York-based brand jointly announced that they have signed . Carlyle was founded in 1987 as an investment banking boutique by five partners with backgrounds in finance and government: William E. Conway Jr., Stephen L. Norris, David Rubenstein, Daniel A. [73], AlpInvest Partners is one of the largest private equity investment managers globally with over $63 billion under management as of December 31, 2022, invested alongside more than 325 private equity firms. When your best clients are brands like Heinz, P&G, Campbell's and Kellogg's, such seemingly wholesome trends spell disaster. Berkshire Partners sold Acosta in 2006 to AEA Investors for an undisclosed sum. The parent, The Carlyle Group, the third largest private equity firm in the world with assets approaching $200 billion, is also run and managed by individuals with feet in both camps to wit:. Which companies in this hub have the most subsidiaries? So, the Carlyle Group is a multinational PE firm based in DC in the US. Delhivery is a supply chain services company that provides transportation, warehousing, freight, and order fulfillment services. The Carlyle Group is one of the world's largest alternative-asset managers, with $372.7 billion in total assets under management . 96, of the Companies Law (1994) of Guernsey[84] for a "compulsory winding up proceeding" to permit all its remaining assets to be liquidated by a court-appointed liquidator. Diversity Spotlight (US Headquarters Only). Stock prices change everyday by market forces. Abortion Bans Are A Human Rights Crisis That Violate International Law, Groups Tell UN, Weir Group Leads FTSE 100 Higher As 2022 Profits Beat Forecasts, 14 Virtual Group Coaching Seminar Ideas (And Who Can Benefit From Them), How To Leverage Diversity Committees And Employee Resource Groups To Achieve Business Outcomes, Effective Altruism-Linked Group Used Millions Donated By FTX To Buy A Czech Castle, Dota 2 Lima Major Bracket Set After Incredibly Close Group Stage, Group Works To Bring Broadband To Coal Country, Addressing The Power Issue With Mears Advanced Technology Group, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 84% of employees would recommend working at The Carlyle Group to a friend and 84% have a positive outlook for the business. 2 min read. What causes the stock market to GO down? Who can forget KKRs $31 billion battle over RJR Nabisco in 1988? Glenn has made over 3 trades of the Carlyle Inc stock since 2013, according to the Form 4 filled with the SEC. CCC. The funding reportedly values the streetwear specialist at nearly $1 billion. David Rubenstein and His Partners Have Made Billions With the Carlyle Group, the World's Hottest Private Equity Firm. [14] Carlyle's most notable defense industry investment came in October 1997 with its acquisition of United Defense Industries. The good news is that Carlyle Group is growing revenues, and EBIT margins improved by 6.0 percentage points to 50%, over the last year. Largest private equity firmsView 3+ more. Carlyle is one of the world's leading global investment firms. The turmoil cost Acosta longtime clients. Its Value Score of C indicates it would be a neutral pick for value investors. In the chart below, you can see how the company has grown earnings and revenue, over time. Five years later AEA flipped the company to Thomas H. Lee Partners for $2 billion. [1] The firm operates four fund families, focusing on leveraged buyouts, venture & growth capital, real estate and leveraged finance investments. SCCM ADMIN/EXECUTIVE SUPPORT (Current Employee) - Washington, DC - May 15, 2019. In the weeks following the meeting, it was reported that Shafiq bin Laden, a member of the Bin Laden family, had been the "guest of honor", and that they were investors in Carlyle managed funds. We use cookies to ensure that we give you the best experience on our website. In the last 3 years, The Carlyle Group has acquired 36 companies. 10 Largest Investment Management Companies BlackRock. Acufocus is a medical device company that develops and markets KAMRA inlay for the treatment of near vision loss. [11] Carlyle would sell the business to Tracor in October 1994. The Firms most common investment types include buyout (lbo, mbo, mbi) (30%) and secondary buyout (18%). Working at the Carlyle Group has taught me that combined effort from a team seeking the same goal is an extremely . (Video) ICON is Re-branded Tekton and Carlyle? Founded in 2000, AlpInvest had historically been the exclusive manager of private equity investments for the investment managers of two of the world's largest pension funds Stichting Pensioenfonds ABP (ABP) and Stichting Pensioenfonds Zorg en Welzijn (PFZW), both based in the Netherlands. Each successive private equity transaction was bigger than the one that preceded it and saddled Acosta with more debt. The Carlyle Group is a global private equity firm that caters to early and later stage companies. As of March 3, 2023, Carlyle Group Inc had a $12.6 billion market capitalization, compared to the Investment Management & Fund Operators median of $677.0 million. Exit. The bill, which was intended to draw attention to the connection between Carlyle and Mubadala Development, was later withdrawn. Founded in 1987 in Washington, D.C., by William E. Conway Jr., Stephen L. Norris, David Rubenstein, Daniel A. [85], The losses to the Carlyle Group due to the collapse of Carlyle Capital are reported to be "minimal from a financial standpoint". In 2008, the year Carlyle bought the business, it made $18 million in profits on $3.6 billion in revenues. In addition, in the recession of 20082009, Freescale's chip sales to automakers fell off, and the company came under great financial strain. "[83] On March 16, 2008, Carlyle Capital announced that its Class A Shareholders had voted unanimously in favor of the Corporation filing a petition under Part XVI, Sec. (Source: Carlyle Group) What does the company do? [56][57][58] Youngkin would later go on to be elected Governor of Virginia in the state's 2021 gubernatorial election. Acostas new owners also injected a fresh $325 million of cash. We are comprised of more than 2,100 professionals across 5 continents, which gives a broad perspective based on local knowledge and trusted relationships across the globe. From the 1930s to the 1970s family-owned Acosta remained firmly rooted in Jacksonville. The Carlyle Group has acquired 174 organizations. The Carlyle Group is also a major investor in US Investigations Services, which is the privatized arm of the United States Office of Personnel Management 's Office of Federal Investigations. mega-sized private equity firm investors just like it. By the time Carlyle invested $1.1 billion in the food brokerage, Acosta was forced to take on $3 billion in debt to close the deal. 1987, Washington, DC (United States) Private equity firm focused on multiple sectors. Customers include Clorox and Coca-Cola, which have been clients since the 1930s and 1950s, respectively.Acosta Sales & Marketing. Brown & Sons, First Interstate Equities, and the Richard King Mellon family. The average estimated annual salary, including base and bonus, at Acosta is $133,125, or $64 per hour, while the estimated median salary is $130,949, or $62 per hour. The Guernsey-based affiliate of Carlyle was very heavily leveraged, up to 32 times by some accounts, and it expected its creditors to seize its remaining assets. California Public Employees' Retirement System, United States Securities and Exchange Commission, "Our Story | The Carlyle, A Rosewood Hotel", "General Dynamics Sells Unit To Private Group", "Tracor To Buy GDE Systems From Carlyle Group", "Philips To Sell Magnavox Electronic Systems", "Hughes Aircraft Sets Purchase of Magnavox for $370 Million", "Carlyle Beats General Dynamics In Bidding for United Defense", "Military Contractor Sold to Buyout Firm", "Fahrenheit 9/11 had no effect, says Carlyle chief", "Big Deals. (202) 729-5626 With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. It didnt help that 30-year Acosta veteran and CEO, Robert Hill, decided to step down in 2016 and Carlyle, together with Acostas board, chose to replace him with two outsiders. (Video) Private Equity: Industry Review - Ed Mathias, The Carlyle Group, (Video) Private Equity Lessons from the Carlyle, Beats and Apple Deal | Mink Learning, (Video) Top 10 Largest Private Equity Firms in the world, (Video) Building The Carlyle Group with David Rubenstein, American Business Leader. [64], In February 2023, Harvey Schwartz was appointed CEO of the group, replacing Kewsong Lee, who left the position abruptly the previous summer following a power struggle with the co-founders. In September 2006, Carlyle led a consortium, comprising Blackstone Group, Permira and TPG Capital, in the $17.6 billion takeover of Freescale Semiconductor. When your best clients are brands like Heinz, P&G, Campbells and Kelloggs, such seemingly wholesome trends spell disaster. private equity firm In our ongoing series, ManufacturedHomes.com in conjunction with L.A. Tony Kovach from MHProNews, sits down with Mark Beliczky to discuss The Carlyle Group's new profit driven interest in the manufactured housing sector; specifically targeting the acquisition of land lease communities. Shawn Thew/EPA, via Shutterstock But its portfolio managers, who tend to wear dark suits and skinny ties, were not used to dealing with. Virginia Gov. Which types of acquisition does this organization make most frequently. An industry-leading Senior Media Executive with global experience managing private equity-backed companies and public corporations. These national manufacturers wanted simplicity rather than dealing with a different broker in each market. Category for portfolio companies of the private equity investment firm: Carlyle Group[1] ^Portfolio companies are those companies that are currently or have been previously owned or controlled by the private equity firm or its affiliate funds. Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC. The Real Assets segment had about $44 billion in AUM as of March 31, 2018. Heinz. If there are more sellers than buyers, prices go down until they reach a level that entices buyers. On October 2017, The Carlyle Group made a $500 million investment in the brand Supreme valuing the company at $1 billion. The firm employs more than 395 Still, Acosta was unable to make a principal debt payment in September 2019, leading to Carlyles decision to push the company into bankruptcy. How much does a partner at Carlyle make? M&A research that takes seconds (not all afternoon), Better understand your customers and prospects. D'Aniello and Greg Rosenbaum. Rumsfeld and Carlucci alternatively served as Chairman of the Carlyle Group. Which industries has this organization had the most exits in? How is it working for the Carlyle Group? Because, in the end, the merchants of debt will be just fine, but the food brokerage business will never be the same. In 1992, Carlyle completed the acquisition of the Electronics division of General Dynamics Corporation, renamed GDE Systems, a producer of military electronics systems. What are the components of holding period return? By "satisfactory results," Buffett is being modest. The deal resulted in $1.7 billion in debt on Catalinas balance sheet. One of the biggest roadblocks to closing coal companies is finding jobs for all the people who will be put out of work. What is the difference between benchmark and index? Carlyle Group. Global Credit Management of funds that pursue investments in distressed & special situations, direct lending, energy credit, loans & structured credit and opportunistic credit; and, Global Investment Solutions Management of funds that invest in private equity and real estate fund of funds, co-investment and secondaries through its, This page was last edited on 2 March 2023, at 10:15. Metropolitan was sold in 2021 to BentallGreenOak. The main event is now finalised after one of the closest group stages we have seen in a long time. It has also invested in 11 others. Investment firm The Carlyle Group has acquired RuneScape publisher Jagex for at least $530 million. The mining equipment manufacturer has risen 7% in value as it predicted further progress in 2023. UPDATED June 25, 2019: When Sam Zell's Equity LifeStyle Properties snatched up a Davie mobile home park for $50.35 million in July of last year, the billionaire real estate mogul's firm bought . 1001 Pennsylvania Avenue, NW, New York, Amsterdam, London, Hong Kong, San Francisco, Indianapolis, Singapore and Tokyo with over 100 investment professionals and over 175 employees. [73], Carlyle's Real Assets segment advises 11 U.S. and internationally focused real estate funds, two infrastructure funds, two power funds, an international energy fund, and four Legacy Energy funds (funds that Carlyle jointly advises with Riverstone). So long as the U.S. economy grows and the stock market continues to rise, this precarious game of swapping companies among themselves, often at increasingly higher multiples, will persist. I'm Too Old To Be A Hypebeast Hypebeasts. [40], In September 2006, Carlyle led a consortium, comprising Blackstone Group, Permira and TPG Capital, in the $17.6 billion takeover of Freescale Semiconductor. VillageMD, the developer of doctor practices and clinics backed by Walgreens, has acquired a big medical group in Connecticut with 30 locations across the state. If you'd like to suggest changes to this profile, please email us at support@crunchbase.com, Announced Date: Date when the Investment is announced, Organization Name: Name of the organization that received the investment, Lead Investor: This field indicates whether an investor led/organized the investment, Funding Round: Name of the funding round where the Investment is made, Money Raised: Amount of money raised in Funding Round. Over the last few years, revenues at Acosta have been hit hard as grocery marketing budgets have shrunk while at the same time consumers have gravitated toward fresh and organic foods over the canned and dry goods that have made up the bulk of Acostas brokerage business. The gap between tags can vary, but you'll know if it's fake Supreme if the two tags touch or overlap, and aren't parallel to each other. Which investors participated in the most funding rounds within this hub? Hypebeasts. Texas Crossmark was another basket case. The Global Credit segment had about $34 billion in AUM as of March 31, 2018. Its largest (disclosed) acquisition occurred in 2021 when it acquired Medline Industries for $34.0B. Blackstone Group Inc on Friday secured the support of Bill Gates, the biggest shareholder in Signature Aviation, bolstering its bid to buy the private-jet servicing company in the face of a rival . Acostas sales had grown to $1.9 billion and Carlyle scooped up most of the equity in a $4.4 billion leveraged buyout. $34.70-.15 (-0.43%) . Number of Countries Carlyle has invested in - 35 % of Carlyle's Current/Former Portfolio based in US - 51% Largest Transaction - $30.7B, Caesar's Entertainment (2008) Top 5 Sectors - Software, Financial Services, Business Services, Manufacturing, Healthcare Services In its early years, Carlyle also advised in transactions including, in 1991, a $500 million investment in Citigroup by Prince Al-Waleed bin Talal, a member of the Saudi royal family. In the last 3 years, The Carlyle Group has exited 58 companies. [43][44][45] Also in 2006, Carlyle acquired Oriental Trading Company which ultimately declared bankruptcy in August 2010[46] as well as Forba Dental Management, the owner of Small Smiles Dental Centers, the largest US chain of dental clinics for children. [37], As the activity of the large private equity firms increased in the mid-2000s, Carlyle kept pace with such competitors as KKR, Blackstone Group, and TPG Capital. Pages with non-numeric formatnum arguments, Short description is different from Wikidata, Articles containing potentially dated statements from December 2021, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0. How many companies has The Carlyle Group invested in? Carlyle has 327 portfolio exits. A lot of backstabbing and the management is horrible. It also had a reputation for going the extra mile to ensure that its customers got premium placement at retailers. Then there is Irvine, Californias Advantage Solutions, a sales and marketing firm that Apax Partners flipped to Leonard Green and CVC Capital for $4 billion in 2014. This list of organizations invested in by The Carlyle Group provides data on their funding history, investment activities, and acquisition trends. [28] R. H. Donnelley Corporation acquired Dex Media in 2006. If diversity committees and ERGs are structured effectively, with well-defined goals, these groups can play important roles in furthering business objectives, increasing innovation and creating a more inclusive and productive workplace. The Firms most common exit type is trade sale (42%). In January 2021, The Carlyle Group acquired a majority stake in Jagex, a UK video game development studio known for the massively multiplayer online game RuneScape. Russias War On Ukraine: Daily News And Information From Ukraine, Bayern Munich Remain First But Must Switch Off Complacency Ahead Of PSG Fixture, More Ex-British Challenger 2 Tanks Are Bound For Ukraine As London Doubles Its Pledge, This African Country Of Millions Is Without PowerHeres What We Know, REI Workers In Cleveland Vote To Join The Retail, Wholesale And Department Store Union, Meet Rajiv Jain, The Asset Management Billionaire Backing The Embattled Adani Group, Walgreens-Backed VillageMD Buys 30-Location Physician Group In Connecticut, U.S. Through our reach, we are able to meet the dynamic needs of the worlds most sophisticated investors. The Carlyle Group has invested in multiple sectors such as HRTech, Security & Surveillance Technology, Online Travel and more. In total, The Carlyle Group has invested in 41 US states and 38 different countries. introduction of a new product or a product recall. Who does Carlyle own? To prove their devotion, Acosta and his tiny boots-on-the-ground team would often convince grocers to run advertisements in newspapers to entice sales, as well as set up in-store displays. How many investments has this organization made over time? [67][68], In February 2008, California legislators targeted Carlyle and Mubadala, proposing a bill that would have barred CalPERS from investing money "with private-equity firms that are partly owned by countries with poor records on human rights." Since its acquisition in 2011, AlpInvest has grown its investor base from its two original Dutch pension sponsors to more than 450 institutional investors globally.[77]. It was then that a former Procter & Gamble salesman (who happened to handle its Clorox account) named Delmar Dallas took over Acosta. In Fahrenheit 9/11, Moore makes nine allegations concerning the Carlyle Group. The company has spent over $ 127.34B for the acquisitions. Human rights groups urged the United Nations to take action against the abortion restrictions. . Booz Allen Hamilton Holding Corporation ("Booz Allen")(NYSE: BAH), the parent company of management consulting, technology, and engineering services firm Booz Allen Hamilton Inc., today announced the sale of an aggregate of 12,000,000 shares of Class A common stock ("common stock") on an underwritten basis by an affiliate of The Carlyle Group ("Carlyle") to Morgan Stanley & Co. LLC . It also moved Acosta beyond grocery to tangential industries like restaurants. SHAKE UP AT CARLYLE The Carlyle Group's Chairman of the Americas Peter Clare is retiring after more than 30 years at the private equity firm, effective April 30. Our investors range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations. Join Mergr to view The Carlyle Groups full profile and discover more However, their overall investment might have been considerably larger, with the $2 million committed in 1995 only being an initial contribution that grew over time. Series A, Seed, Private Equity), Average of the Crunchbase Ranks of the organizations in this hub, Total number of funding rounds associated with this hub, Total funding amount raised across all funding rounds, Total number of acquisitions made by organizations in the hub, Total number of investments made by investors in this hub, Total number of lead investment firms and individual investors that invested in organizations of this hub, Total number of investment firms and individual investors that invested in organizations of this hub, Median number of investments made by investors in this hub, Median number of lead investments made by investors in this hub, Total number of people associated with this hub, Total number of events associated with this hub, Total amount raised at IPO of all the organizations associated with this hub, Median amount raised at IPO of all the organizations associated with this hub, Total valuation at IPO of all the organizations associated with this hub, Median valuation at IPO of all the organizations associated with this hub, Average date at which organizations in this hub went public, Percentage of organizations in this hub that have removed their stock from the stock exchange. We wouldn't blame The Carlyle Group Inc. (NASDAQ:CG) shareholders if they were a little worried about the fact that Kewsong Lee, the CEO & Director recently netted about US$18m selling shares. On the front of this label, it should say 'Made in U.S.A.' with a dot after each letter. As for the Carlyle Group, the whole episode represents an embarrassing blemish, but nothing more. The work environment is very supportive and positive. [54], In September 2020, The Carlyle Group acquired a majority stake in Minneapolis-based sanitizing machine maker Victory Innovations. You may opt-out by. As it happens, Carlyle had financed the sale of Swift's former label, Big Machine Label Group, to music manager Scooter Braun. In those days, food brokering was all about connections and Acosta was a distant cousin of St. Elmo Chic Acosta, a beloved and powerful Jacksonville politician, known for championing bridges and greenways in the northeastern Florida city. On May 3, 2012, Carlyle completed a US$700 million initial public offering and began trading on the NASDAQ stock exchange. A few years later, Borden, maker of everything from condensed milk to Elmers Glue, was consumed by an ill-fated leveraged buyout. [10], Carlyle developed a reputation for acquiring businesses related to the defense industry.