David Rubenstein says Carlyle’s CalPERS minority sale valued the firm at about $2bn to $2.5bn

What was said

""We ultimately, um, sold a piece of it to CalPERS, I think about 5% to California, uh, retirement system, and they'd value the company at something being worth like $2 billion. The company was worth 2 billion or 2.5 billion.""

David Rubenstein says Carlyle sold roughly 5% of the firm to CalPERS at a valuation he recalls as about $2bn to $2.5bn, adding it was “probably 2009 or something like that”. He also says Carlyle later sold about 7.5% to Abu Dhabi’s Mubadala at a valuation he recalls as around $20bn, before the firm ultimately went public.