ests even further upside and greater conviction in our multiples for performance fee multiples, especially for those companies with less volatility (Carlyle and KKR). Exhibit 24: With a 24% tax rate on all earnings and a 22.5x FRE multiple, we see future performance fees valued at and implied 6.1x multip

nts.com « Seea sample reprint in PDF format. « Order a reprint of this article now MARKETS U.S. Private-Equity Tax Change Doubtful This Year, Says Carlyle Co-Founder Suggested Reform Could Increase Taxes on Private-Equity Profits By MIKE SPECTOR Feb. 26, 2014 5:06 a.m. ET BERLIN— Carlyle Group LP co-

, 'H.R. 208 - To designate the facility of the U.S. Postal Service located at 500 W Main St, Suite 102 in EFTA00148074 Tupelo, MS, as the Colonel Carlyle `Smitty' Harris Post Office", 'H.R. 546 - Effective Assistance of Counsel in the Digital Era Act, and 'H.R. XX - PRAADA' Location: U.S. Capitol, Wa

red to address Global tax and legal requirements 1 1 I I Globally diversified portfolio of mature (84% funded) funds managed by CD&R, Apollo, Carlyle, KKR, Apax, MidOcean, MSREF, CDH Whitney (SOF II) USS64m 27% 1 fund 12 assets US pension fund • Single LP position in fully funded European

feeder funds structured to address tax and legal requirements Globally diversified portfolio of mature (84% funded) funds managed by CD&R, Apollo, Carlyle, KKR, Apax, MidOcean, MSREF, CDH Whitney USS64m 1 fund US • Single LP position in fully funded European LBO fund managed by KKR (SOF II) 27%

feeder funds structured to address tax and legal requirements Globally diversified portfolio of mature (84% funded) funds managed by CD&R, Apollo, Carlyle, KKR, Apax, MidOcean, MSREF, CDH Whitney USS64m 1 fund US • Single LP position in fully funded European LBO fund managed by KKR (SOF II) 27%

red to address mm €O› Global tax and legal requirements 1 Globally diversified portfolio of mature (84% funded) funds managed by CD&R, Apollo, Carlyle, KKR, Apax, MidOcean, MSREF, CDH Whitney USS64m 1 fund US • Single LP position in fully funded European LBO fund managed by KKR (SOF II) 27%

eck-in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York. NY 10075. United States The London NYC 151 West 54th Street New York. NY 10019. United States T

eck-in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York. NY 10021. United States The New York Palace 455 Madison Avenue New York. NY 10022. United States

eck-in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York. NY 10021. United States The Greenwich Hotel 377 Greenwich Street New York. NY 10013. United Stat

eck-in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York, NY 10075, United States The Peninsula New York 700 Fifth Avenue at 55th Street New York, NY 1001

e to use one of Jeffrey's apartments this time or anytime you choose.... >>>> >>>> The Mark >>>> >>>> http://www.themarkhotel.com >>>> >>>> The Carlyle >>>> >>>> http://www.rosewoodhotels.com/en/the-carlyle-new-york >>>> >>>> Thank you, >>>> >>>> >>>>> On May 16, 2015, at 1:49 AM, > wrote: >

lopment and raised a $500 million fund to make Middle East investments in 2009, said they were suspending some of their investment plans in Egypt. A Carlyle co- founder, David Rubenstein, warned in a speech last month that while his firm was not rushing for the exits, "today isn't the day to do an invest

eck•in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York. NY 10021, United States The Lowell 28 East 63rd Street New York. NY 10065. United States The Pi

eck•in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York. NY 10075, United States The Pierre. New York. a Taj Hotel 2 East 61st Street New York, NY 10065,

eck-in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York. NY 10021. United States Trump International Hotel & Tower New Yo One Central Park West New York.

eck-in. when available: Continental breakfast for two each day of your stay: 4pm late check-out; and a special amenity that varies by property. The Carlyle. A Rosewood Hotel 35 East 76th Street New York. NY 10021. United States The Peninsula New York 700 Fifth Avenue at 55th Street New York. NY 1001

n®gmail.com> Subject: Re: Date: Thu, 01 Oct 2015 02:41:38 +0000 How very nice that they'll be there on Sunday. No problem about them coming to the Carlyle on Monday to hear Woody play. We will arrange a table. How many will you be? They should get there at 8:30. Sent from Soon-Yi's iPhone ft On Sep 3

r if you like On Thu, Oct I, 2015 at 10:15 PM, Valeria Chomsky < > wrote: Jeffrey, It is great about dinner with Woody and Soon on Sunday and the Carlyle on Monday. We will be delighted to meet Gromov, but it has to be some time on Sunday, because Noam has an event the whole day on Saturday in NJ. W

and talent risk, competition, and a unique corporate structure that limits unitholder control. The Carlyle Group (CG) Our price objective (PO) for Carlyle is $18, which implies a target price-to-ENI (P/ENI or P/E) multiple of 13x our 2017 ENI estimate. Our price objective is based on our sum-of- the-par