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 $170 billion in assets under management in 113 funds and 67 fund of funds vehicles investing in Corporate Private Equity, Global Market Strategies, Real Assets and Fund of Funds Solutions as of December 31, 2012. Carlyle combines global vision with local insight, relying on a top-flight team of more than 600 investment professionals operating out of 32 offices to uncover superior opportunities in Africa, Asia, Australia, Europe, Latin America, the Middle East and North America.
Our general partner currently intends to cause The Carlyle Group L.P. to make quarterly distributions to common unitholders of its share of distributions from Carlyle Holdings, net of taxes and amounts payable under the tax receivable agreement. It is currently anticipated that Carlyle Holdings will 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 $0.16 per common unit, with the first such quarterly distribution being ratably reduced to reflect the portion of the quarter following the completion of the initial public offering. In addition, it is currently anticipated that Carlyle Holdings will make annual distributions to its partners, including The Carlyle Group L.P.'s wholly owned subsidiaries, in an amount that, taken together with the other above-described quarterly distributions, represents substantially all of our Distributable Earnings in excess of the amount determined by our general partner to be necessary or appropriate to provide for the conduct of our business, to make appropriate investments in our business and our funds or to comply with applicable law or any of our financing agreements. We anticipate that the aggregate amount of our distributions for most years will be less than our Distributable Earnings for that year due to these funding requirements.
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.