The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Who are the Carlyle Group?

Dec 3, 2007

Carlyle can remain mysterious, thanks to the reporting rules for private equity firms. What’s known is that it grew under the leadership of Frank Carlucci, a former deputy director of the CIA and Secretary of Defense under Reagan.

He was able to reach the top of the U.S. government for his partners, who have included former President G.H.W. Bush, former defense Secretary Donald Rumsfeld, former Secretary of State James Baker, and many other top officials who have worked for Carlyle.

It’s no wonder this firm gained so many military contracts, 14 billion dollars worth just in the years from 1998 to 2003.

Carlyle’s profits are unknown, since the government is unwilling to impose the same reporting rules on private equity firms as on public ones. After all, lucrative positions at Carlyle might be open for a new round of government officials. They wouldn’t want to hurt their job opportunities.