The Carlyle Group Inc. Stock Price, News & Analysis

StandardAero (NYSE: SARO) reported strong Q3 2024 results with revenue increasing 13.2% year-over-year to $1,244.6 million. Net Income reached $16.4 million with a 1.3% margin. Adjusted EBITDA grew 26.0% to $168.4 million, with margin expanding to 13.5%. The company completed a $1.7 billion IPO, using $1.2 billion net proceeds to reduce debt, expecting over $130 million in annual interest savings. Growth was driven by commercial aerospace and business aviation markets, up 20% and 15% respectively. The company also acquired Aero Turbine Inc. to expand component repair capabilities.

Sedgwick, a global provider of claims management and business solutions, has announced the closing of a $1B equity investment from Altas Partners. The deal includes new investments from existing investors Carlyle (NASDAQ: CG) and Stone Point Capital, with Carlyle maintaining its control position. CDPQ and Onex continue as minority shareholders. Following Altas' investment, Sedgwick's total enterprise value has reached $13.2 billion, up from $6.7 billion since Carlyle's initial 2018 investment. The company will remain independent and private, focusing on claims handling excellence and technological innovation.

Baxter International (NYSE:BAX) has declared a quarterly cash dividend of $0.17 per share of common stock, payable on Jan. 2, 2025, to stockholders of record as of Nov. 29, 2024. The indicated annual dividend rate is $0.68 per share. This new quarterly dividend rate is set in anticipation of the Kidney Care business segment divestiture to Carlyle, expected to close in late 2024 or early 2025. The dividend targets a payout ratio of approximately 25% of adjusted net income, aligning with peer companies. Baxter maintains its 93-year history of consistent dividend payments while balancing business reinvestment with shareholder returns.

Advance Auto Parts (NYSE: AAP) has completed the sale of Worldpac, Inc. to Carlyle (NASDAQ: CG) for $1.5 billion, with estimated net proceeds of $1.2 billion after taxes and transaction costs. The transaction, initially announced on August 22, 2024, aims to simplify AAP's business model and strengthen its balance sheet. The company will provide updated strategic priorities and financial objectives for its blended-box business during its third quarter 2024 earnings call on November 14, 2024.

CorroHealth, a leading revenue cycle management (RCM) solutions provider, announced a strategic investment partnership with Patient Square Capital. Current shareholders, including Carlyle (NASDAQ: CG), TT Capital Partners, Sanaka Group, and CorroHealth management, will maintain their investments, with Patient Square and Carlyle sharing joint control. The transaction is expected to close by year-end. CorroHealth, established in 2019, has grown into a technology and clinically led healthcare RCM platform, with Carlyle serving as the majority investor since 2019.

StandardAero announced the pricing of its upsized initial public offering (IPO) of 60,000,000 shares of common stock at $24.00 per share. The offering includes 53,250,000 shares from StandardAero and 6,750,000 from existing stockholders. Trading is expected to begin on October 2, 2024, on the New York Stock Exchange under the symbol 'SARO'. The offering is set to close on October 3, 2024, subject to customary conditions.

The IPO size was increased from the previously announced 46,500,000 shares. Selling stockholders granted underwriters a 30-day option to purchase up to 9,000,000 additional shares. Lead book-running managers include J.P. Morgan, Morgan Stanley, BofA Securities, UBS Investment Bank, Jefferies, and RBC Capital Markets. The offering will be made only through a prospectus, with copies available from J.P. Morgan Securities and Morgan Stanley & Co.

TJC LP, a middle-market private equity firm, has announced the closure of its second continuation fund at $2.1 billion. This fund extends The Resolute Fund III, L.P. and includes an asset jointly owned with The Resolute Fund IV, L.P. The Continuation Fund acquired five portfolio companies from these funds, providing an opportunity for partners to achieve liquidity while allowing TJC more time and capital to accelerate growth of core portfolio assets.

The transaction was led by AlpInvest, a subsidiary of Carlyle (NASDAQ: CG), and included various secondary and primary investors. TJC offered existing partners options for full liquidity, rollover, or additional capital commitments. The fund was oversubscribed by new investors, demonstrating strong support for TJC's strategy. William Blair served as the exclusive financial advisor, while Latham & Watkins LLP provided legal counsel to TJC.

Unison has launched the innovative Equity Sharing Home Loan, allowing homeowners to access cash at below-market rates without selling assets or increasing debt. This new loan category combines the benefits of home loans and equity sharing agreements, offering interest-only, below-market monthly payments. Global investment firm Carlyle (NASDAQ: CG) has agreed to purchase up to $300 million of these loans.

The product aims to unlock the $32 trillion in U.S. home equity, especially for homeowners reluctant to refinance their low-interest first mortgages. It offers a fixed below-market interest rate for accessing home equity while allowing homeowners to benefit from potential home price appreciation. This versatile solution can be used for home renovations, debt consolidation, or securing financial futures.

Global investment firm Carlyle (NASDAQ: CG) has announced a strategic partnership with North Bridge ESG , committing up to $1 billion for C-PACE financing. This collaboration aims to address the evolving needs of the commercial real estate market on a larger scale. C-PACE is a fixed-rate financing option secured by local property assessments, increasingly sought after for its benefits to commercial real estate capital stacks.

The partnership leverages Carlyle's expertise in strategic growth, real estate, and asset-backed finance, enabling North Bridge to expand its C-PACE financing services to institutional borrowers in major markets nationwide. This transaction, involving Carlyle's Credit Strategic Solutions and Private Credit teams, represents the largest commitment to C-PACE financing to date, positioning North Bridge to lead the industry's transformation.