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Carlyle is moving to a ‘one share, one vote’ model

The investment giant announced this morning that it is converting to a corporation from a publicly traded partnership, following peers in making the move. The company also made another huge change: It is giving shareholders more say in how it’s run.

Carlyle converted into a “C corporation,” the standard model for publicly traded companies. Private equity firms that have gone public have typically done so as partnerships, which saved on taxes but prevented them from being included in major stock indexes.

Rivals like KKR and Blackstone have already made the transition, which has helped bolster their stock prices.