Carlyle Group received a $500 million investment from Mubadala Development Co., part of the Abu Dhabi government, as the private equity firm prepares for an IPO.
Mubadala will receive convertible subordinated notes and additional equity in the firm, Carlyle said in an e-mailed statement Thursday; no further details were provided.
Carlyle sold a 7.5% stake to Mubadala in 2007 after shelving plans for an IPO amid the credit crisis.
Carlyle, founded in 1987 by William Conway, David Rubenstein and Daniel D’Aniello, plans to file papers for an IPO late next year, according to people with knowledge of the matter.
“Our partnership with Mubadala continues to strengthen as we collaborate on investment opportunities and share sector and regional economic insights,” Mr. Rubenstein said in the statement. The firm will use the money partly to expand its range of investment products. Officials at Mubadala and Carlyle declined to give further details.
“Since the initial investment in 2007, our two firms collaborated across a number of industry sectors,” Khaldoon Al Mubarak, Mubadala CEO, said in the statement. “We’re confident in Carlyle’s ongoing success as a global alternative asset manager.”