Here’s What to Expect from Carlyle’s IPO

Private equity firm Carlyle Group LP said Monday it values itself at as much as $7.61 billion and looks to raise between $701.5 million and $762.5 million in an initial public offering to rival those of P-E firms Blackstone (NYSE:BX), KKR (NYSE:KKR), and Apollo Global Management (NASDAQ:APO).

Carlyle was to kick off the week with a roadshow beginning Tuesday in Kansas City, Missouri, before moving to Europe and the Middle East, according to a buy-side source. It will return to the United States on April 24, stopping in New York, Boston, San Francisco, and Chicago.

A Carlyle spokesperson declined to comment on the details of the roadshow.

The firm said it will sell 30.5 million shares at $23 to $25 each, and in addition to Carlyle’s 10 percent stake, the IPO’s underwriters — including JPMorgan (NYSE:JPM), Citigroup (NYSE:C), Credit Suisse (NYSE:CS), and Bank of America Merrill Lynch (NYSE:BAC) — have the option to purchase up to 4.57 million extra shares. Carlyle’s founders will not sell any of their shares in the offering.

Carlyle filed for its IPO in September, and expects to use the proceeds to repay debt and to fund acquisitions, as well as for other general corporate purposes. The company will list its shares under the symbol “CG” on the Nasdaq. Pricing for the IPO is expected on May 2.