Carlyle is one of the world's leading alternative asset investment managers. Carlyle was founded in 1987 by its three founders – Bill Conway, Dan D'Aniello, and David Rubenstein. The Carlyle Group manages $158 billion in assets under management in 281 investment vehicles investing in Corporate Private Equity, Global Market Strategies, Real Assets and Investment Solutions as of December 31, 2016. Carlyle combines global vision with local insight, relying on a top-flight team of more than 1,600 professionals operating out of 35 offices to uncover superior opportunities in Africa, Asia, Australia, Europe, the Middle East, North America and South America.
It is Carlyle’s intention to cause Carlyle Holdings to make quarterly distributions to its partners, including The Carlyle Group L.P.’s wholly owned subsidiaries, that will enable The Carlyle Group L.P. to pay a quarterly distribution of approximately 75% of Distributable Earnings per common unit, net of taxes and amounts payable under the tax receivable agreement, for the quarter. Carlyle’s general partner may adjust the distribution for amounts determined to be necessary or appropriate to provide for the conduct of its business, to make appropriate investments in its business and its funds or to comply with applicable law or any of its financing agreements, or to provide for future cash requirements such as tax-related payments, clawback obligations and distributions to unitholders for any ensuing quarter. The amount to be distributed could also be adjusted upward in any one quarter.
Notwithstanding the foregoing, the declaration and payment of any distributions will be at the sole discretion of our general partner, which may change our distribution policy at any time. Our general partner will take into account: general economic and business conditions; our strategic plans and prospects; our business and investment opportunities; our financial condition and operating results, including our cash position, our net income and our realizations on investments made by our investment funds; working capital requirements and anticipated cash needs; contractual restrictions and obligations, including payment obligations pursuant to the tax receivable agreement and restrictions pursuant to our credit facility; legal, tax and regulatory restrictions; other constraints on the payment of distributions by us to our common unitholders or by our subsidiaries to us; and such other factors as our general partner may deem relevant.