LP highlights misalignment of interest with GPs

“Bill, if you’re in the room, I can understand why Carlyle kept the preferred return at 8%”, said Sandra Robertson, chief investment officer at Oxford University Endowment Management, of William Conway Jr, co-founder and managing director of the Carlyle Group, at the BVCA Summit today. “Where is the economic generator in Carlyle? It’s not the carried interest, it’s the fees.” Amy King reports