The three founders of private-equity firm Carlyle Group LP reaped an $800 million bounty in 2014 that reflects the big payouts the firm made to investors as it seized on buoyant markets and acquisition-hungry corporations to cash out of investments.
Much of that amount, disclosed in a Thursday securities filing, came from the record $2.09 a share dividend the Washington, D.C., firm paid out to shareholders for the year and from returns on their investments in Carlyle funds.
The founders— William Conway, Daniel D’Aniello and David Rubenstein —each collected more than $95 million in dividends that were paid out on their stakes, which together account for about 55% of the firm’s stock.
Their total take-home was slightly higher than it was in 2013, largely on account of the higher dividend.
Mr. Conway, who serves as co-chief executive and oversees the firm’s investing, made $247.7 million from his investments in Carlyle’s funds.
Mr. D’Aniello, who is chairman and runs the firm’s day-to-day operations, received $133.8 million, while Mr. Rubenstein, the other co-CEO, chief fundraiser and public face of the firm, collected $132.3 million.
Those totals include investment gains as well as the return of invested cash. Each man pumped much of those proceeds back into Carlyle funds during the year. Together, they invested $507.3 million in 2014, according to the filing.
Carlyle sold out of several profitable investments during 2014, including stakes in headphone maker Beats Electronics LLC, government consultant Booz Allen Hamilton Inc. and building-material distributor HD Supply Holdings Inc.
Only a sliver of their payments was awarded as compensation. Each of the founders’ annual salaries has been a constant $275,000 since the firm’s 2012 initial public stock offering. They also each received a $6,500 matching contribution to their 401(k) retirement plans.
The firm also said it paid out $4.9 million to the men for the use and maintenance of their airplanes.
Carlyle’s next rung of leaders also received big payouts in 2014, including its co-chief operating officers Glenn Youngkin and Michael Cavanagh, according to the filing. They also earn annual base salaries of $275,000, but unlike the founders are granted stock and bonuses.
Mr. Youngkin, a 48-year-old who joined Carlyle in 1995 as part of the firm’s U.S. buyout group, received compensation valued at $20.3 million, about twice his 2013 take-home. The 2014 total included a $2.7 million bonus and about $14.6 million in so-called carried interest, which is a slice of profits the firm and its employees earn on certain deal profits.
Mr. Cavanagh, 49, joined the firm in June from J.P. Morgan Chase & Co., where he was a lieutenant of CEO James Dimon . Much of his compensation, valued at $31.2 million in all, stems from stock awarded when he was hired. He also received a $5 million bonus, according to the filing.
Another of Carlyle’s recent hires, Kewsong Lee, the firm’s deputy chief investment officer for private equity who joined the firm in late 2013 from rival firm Warburg Pincus LLC, was awarded compensation valued at $20.3 million, largely in shares tied to his arrival.
Carlyle said it had assets under management of $194.5 billion at the end of last year.
The firm’s shares lost 21.4% during 2014, after rising 60% during the year and a half after the company’s initial public offering.
The company went public in May 2012.