David M. Rubenstein, Co-Founder & Managing Director of Carlyle Group Addresses TIGER 21 Members in New York on Private Equity Issues
New York, NY (Nov. 21, 2005) – David M. Rubenstein, co-founder and managing director of the Carlyle Group, one of the world’s largest private equity firms, addressed members of Tiger 21, the nation’s premier network of peer-to-peer learning groups for high net worth investors, at one of its regular monthly meetings on November 8. Although the majority of private equity investors are financial institutions, Rubenstein’s appearance reflects the caliber of Tiger 21’s membership, who collectively represent more than $5 billion in investable assets.
Mr. Rubenstein joins a growing roster of prominent speakers who have come before Tiger 21’s membership at the group’s townhouse headquarters in New York City. Other recent presenters include Bear Stearns chair Alan “Ace” Greenberg; best-selling author and Columbia University Medical Center Vice-Chair Dr. Mehmet C. Oz; former U.S. Senator Gary Hart; and noted commodity trader and author James Rogers, among others. (See www.tiger21.com/presenters.htm for a complete list of past presenters.)
A former corporate lawyer who served as domestic policy advisor for Jimmy Carter, Mr. Rubenstein co-founded the Carlyle Group in 1987. Carlyle is now among the largest private equity firms in the world, with more than $42 billion in funds under management. During his presentation before Tiger 21, he addressed the following:
• The positives and negatives of private equity investments and what kinds of long-term returns to expect; Mr. Rubenstein discussed the reasons why funds seek to provide returns of at least 1000 basis points above public equity investments, with top-quartile results of 1,500 basis point spreads;
• How the advent of hedge funds is impacting private equity managers because the compensation structure is different;
• Liquidity issues, including expectations of five-year lock-ups;
• External economic factors that could adversely affect private equity returns in 2006 and beyond.
“We are honored to have hosted David Rubenstein as part of our ongoing series of member presentations – he is one of the true lions of the private equity community and his work with Carlyle Group is legendary,” said Tiger 21 founder Michael Sonnenfeldt.
“David’s appearance also embodies the core mission of Tiger 21, where our members share their own acumen and insight on investment and wealth management issues in a way that enhances investor discipline and long-term returns,” he added. “We are pleased to have arrived at a point in our relatively brief history where we can attract the brightest minds from the financial community and beyond to put their own experiences on the line with our members.”
About Tiger 21
Tiger 21 is the nation’s premier peer-to-peer learning group for high net worth investors. Building on shared collective intelligence, Tiger 21 members seek to enhance investment returns while limiting their investment risks to acceptable levels. There are currently six Tiger 21 learning groups, representing more than 60 successful investors, with investable assets of more than $5 billion. Group 7 is currently under development, with additional member groups planned for Florida, Chicago, Los Angeles and Boston. For more, visit www.tiger21.com.