Carlyle Weighs Lower IPO Price

Private equity firm now targeting $22-23 a share, down from $23-$25; wants deeper discount to Blackstone.

Carlyle Group LP may cut the price of its initial share sale as it seeks to replicate the performance of companies it has taken public and emerge as the only U.S. buyout firm trading above its offering level.

The Washington-based private equity manager plans to sell shares for $22 to $23 each after seeking $23 to $25, said two people with knowledge of the matter, who declined to be identified because the talks are private.

Carlyle’s Discount

Knowing how to gauge market sentiment may help Carlyle pull off the sale, said Richard Marin, head of mortgage restructuring firm Ironwood Global LLC and the former chief executive officer of Bear Stearns Asset Management.

Seeking ‘Kick’

The exception is KKR, which had gained 35 percent through yesterday since moving its listing to the U.S. from Amsterdam in July 2010. The company didn’t hold an IPO, choosing instead to combine with its publicly traded European fund.

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