SEC reviews Carlyle exemption request for employee partnerships

The Securities and Exchange Commission issued a notice of application for an order under sections 6(b) and 6(e) of the Investment Company Act of 1940. The order would exempt certain limited partnerships, limited liability companies, corporations, business or statutory trusts, and other entities formed for the benefit of eligible employees of The Carlyle Group Inc. and CP VIII Coinvestment B, L.P. from all provisions of the Act except sections 9, 17, 30, and 36 through 53, and the associated rules and regulations. Each partnership and any series thereof would be classified as an "employees' securities company" within the meaning of section 2(a)(13) of the Act.

Applicants are The Carlyle Group Inc. and CP VIII Coinvestment B, L.P. The original application was filed on December 28, 2021, and subsequently amended on May 20, 2022; December 1, 2022; July 29, 2025; and October 22, 2026. The Commission will issue the order unless it orders a hearing.

Interested persons may request a hearing by emailing the SEC's Secretary and serving the applicant with a copy of the request. Requests must be received by 5:30 p.m., Eastern time, on November 17, 2026, and must be accompanied by proof of service. Under rule 0-5, requests must state the nature of the writer's interest, any facts bearing upon the desirability of a hearing, the reason for the request, and the issues contested.

For further information, contact Stephan N. Packs, Senior Counsel, or Matthew Cook, Branch Chief, at (202) 551-6720 or via the SEC's email address. Applicant contacts include Jeffrey W. Furgeson, Kate Heinzelman, Rajib Chanda, Neesa Sood, and Simpson Thacher & Bartlett LLP.

The fourth amended application, dated October 22, 2026, and supporting documents are available on the SEC's website and through the EDGAR system.