Axios Pro Rata: Carlyle converts (with a twist) — Terrifying toys —
Presented by EY: View in browser Presented By EY Pro Rata By Dan Primack · Jul 31, 2019 Wednesday greetings from Martha's Vineyard, where the sun has beaten the sea breeze into submission. All eyes on the Fed decision at 2 p.m. EST, and Elizabeth Warren didn't discuss her private equity plans during last night's debate. Okay, here we go... Top of the Morning Illustration: Rebecca Zisser/Axios The Carlyle Group this morning announced that it will become the latest big private equity firm to convert from a publicly-traded partnership into a C-corporation. Carlyle converting, on its face, isn't too surprising. Rivals like Apollo, Blackstone and KKR already took the plunge. But this particular conversation is different because Carlyle is giving all of its shares equal voting rights, mean...