The Carlyle Group completed it’s conversion to a corporation from a publicly traded partnership as of January 2020. Under the old partnership structure, the Company benefited from lower tax bills but investors were forced to fill in lengthy tax forms in multiple states if they owned even a single share.

Converting to a corporation would improving the Carlyle’s share price and qualify for inclusion in index tracker funds. This move follows on the trend of other private equity firms such as Apollo, Blackstone and KKR that have converted their status to appeal to a wider group of investors.

However, Carlyle has gone a step further by becoming the first US private equity firm to hold shareholder votes, meaning it will abolish its dual-class shares and have one share class. This means it can be included in more indices such as the Russel and the S&P.

Sources: carlyle.com, FT.com, cityam.com