David Rubenstein, William Conway and Daniel D’Aniello, who founded Washington, D.C.-based Carlyle in 1987 and are now in their sixties, forfeited their bonuses for the second consecutive year.
They received $92.6 million each from their individual 15.4 percent stakes in Carlyle, according to Reuters calculations based on a declared dividend of $1.97 per Carlyle Holdings unit. They also received $281,375 each in executive pay.
Carlyle’s distributable income rose about 22 percent to $840 million in 2013. The firm said earlier this month that fourth-quarter earnings more than tripled as the value of its funds and asset sale profits soared.
Buoyant capital markets boosted the value of the companies held by Carlyle’s funds, helping it to cash out on more investments and return money to investors.
Rubenstein received $108.1 million, Conway $252.8 million and D’Aniello $109.5 million from Carlyle’s funds in 2013 as a result of investing alongside the firm’s clients, the filing lodged with the U.S. Securities and Exchange Commission showed. Rubenstein invested $98.3 million, Conway $207.4 million and D’Aniello $110.6 million.
In total, Carlyle employees invested $1.1 billion of their own money in the firm’s deals in 2013, bringing their total amount of co-investment to $7 billion.
KKR & Co LP founders Henry Kravis and George Roberts received $161.4 million and $165.5 million respectively in cash dividends and executive pay in 2013, more than 17 percent above what they received in 2012.
Anil D’Silva is a reporter for Reuters News in Bangalore