The private equity group cut its IPO price to $22 from its expected range of $23 to $24, which WSJ said was a move intended to create a first-day gain and make sure it was successful.
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The DC-based private equity firm is the second largest asset manager in the world.
David Rubenstein, right, Bill Conway and Daniel D'Aniello, center, founded the Carlyle Group. The private-equity firm is soon expected to file documents that would turn it into a public company. Overnight, Carlyle's 99 partners will become millionaires and billionaires, with individual stakes valued from $3 million to $2 billion and up.
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