Overview

Our corporate private equity operation, established in 1987, is a global business with 108 investment professionals and offices in New York, London, Menlo Park, Mumbai, Hong Kong, and Beijing. We are a world leader in private equity investing, having managed five general private equity funds as well as one specialized fund focusing on media and communications-related investments. From an operation focused in our early years on consummating leveraged buyout acquisitions of U.S.-based companies, we have grown into a business pursuing transactions throughout the world and executing not only typical leveraged buyout acquisitions of seasoned companies but also transactions involving growth-equity or start-up businesses in established industries, minority investments, corporate partnerships, distressed debt, structured securities and industry consolidations, in all cases in strictly friendly transactions. In total, our corporate private equity operation has raised approximately $44 billion in capital since 1987. As of March 31, 2009, our corporate private equity operation had $25.5 billion of fee-earnings assets under management.

From 1987 through March 31, 2009, our corporate private equity funds have invested in 135 companies in a variety of industries and geographies in pursuit of their investment objectives. The total enterprise value of all transactions effected by our corporate private equity operations through March 31, 2009, was approximately $306 billion. As of March 31, 2009, our corporate private equity funds had significant equity investments in 57 different companies.