<table><tr><th>From:</th><th>Richard Kahn</th></tr><tr><td>Sent:</td><td>Monday, February 27, 2017 9:21 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>APO</td></tr></table>

Carlyle founders eat plenty of their own cooking - =loomberg

Feb. 27, 2017 3:55 PM ET I About: The Carlyle Group =CG) <http://seekingalpha.com/symbol/CG> | By: Stephen Alpher, SA News =ditor

Carlyle Group's (NASDAQ:CG) three founders put $1.286 of their own money into the P-E company's funds over the past three years. Leading was co-CEO and CIO Bill Conway =with an average of $181.8M per year.

This =ompares to the average $39.4M a year, KKR's =enry Kravis invested his company's funds, and $15.1M per year from Leon =lack at Apollo Global (NYSE:APO).

Blackstone =NYSE:BX <http://seekingalpha.com/symbol/BX> ) =oesn't break the figure out.

As for pay, =lackstone's Steve Schwarzman led the way with $425M in 2016; Black $131.9M; Kravis $116.1M; David Rubenstein =(Carlyle) $73.1M.

"There's nothing =ore comforting to an investor than knowing a firm or fund manager is investing significant personal capital into their own fund," says David Fann, the CEO of =orreyCove Capital Partners, which advises pension plans that invest in buyout funds. "It connotes alignment, commitment and =onfidence."

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