Reuters: Private Equity: UPDATE 1-Carlyle slightly up in stock market debut

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UPDATE 1-Carlyle slightly up in stock market debut May 3rd 2012, 15:20 Thu May 3, 2012 11:20am EDT By Greg Roumeliotis and Olivia Oran May 3 (Reuters) - Shares of Carlyle Group LP were up modestly in trading on Thursday, in line with a low-key ceremony to mark its stock market debut and one day after the iconic private equity firm had to discount its original IPO price range. Shares of the private equity firm climbed as much as 2 percent following the market open and were 0.7 percent higher to $22.15 in late morning trading. Carlyle's 30.5 million share initial public offering priced at $22 on Wednesday night. The original price range was $23 to $25 per unit. "All year we've seen really the only companies that have done well in this market are high growth technology companies, consumer names that and companies with particularly profitable business models," said Jim Krapfel, an equity analyst with Morningstar. "With Carlyle, it doesn't fit into any of these three buckets and has issues related to its industry such as opaque business models, limited financial disclosures, risks to higher taxation, greater regulatory oversight and a limited partnership structure that places minority shareholders at a distinct disadvantage." Carlyle's founders William Conway, Daniel D'Aniello and David Rubenstein stayed behind the cameras on Thursday at the trading opening ceremony at Nasdaq in New York as representatives from a charity of their choice rang he bell. Carlyle invited Junior Achievement, the world's largest organization dedicated to teaching financial literacy, work readiness and entrepreneurship to young people, to do the honors. Link this Share this Digg this Email Reprints

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