That is due in part to the fact that no Carlyle employees including founders David Rubenstein, William Conway and Daniel D'Aniello are selling stock in the IPO.
In 1987 William Conway and Daniel D'Aniello (former financial gurus at MCI Communications and Marriott Corp. respectively) teamed up with David Rubinstein (a lawyer and Carter administration official) to found the Carlyle Group, a private equity firm based in the District.