凯雷对于金融服务业看法.pptVIP

Overview: Financial Services Industry -  What Went Wrong  What Does it Mean? P. Olivier SarkozyManaging Director Financial Services Group Head October 3, 2008 Important Information This presentation is made available on a confidential basis to sophisticated investors for the purpose of providing certain information about TC Group, L.L.C. and its affiliates (“Carlyle”) and Carlyle-sponsored investment funds (each, a “Fund”). This presentation does not constitute an offer to sell or a solicitation of an offer to purchase interests in any Fund. Any such offer or solicitation shall only be made pursuant to a confidential private placement memorandum of Fund, which qualifies in its entirety the information set forth herein and which should be read carefully prior to investment in any Fund for a description of the merits and risks of an investment in the Fund.? An investment in a Fund entails a high degree of risk and no assurance can be given that a fund’s investment objective will be achieved or that investors will receive a return of their capital. As used throughout this document, and unless otherwise indicated, “gross IRR” shall mean an aggregate, annual, compound, gross internal rate of return on investments. In the case of portfolios of realized and unrealized investments, the gross IRRs are based on realizations and internal valuations of Carlyle as of the applicable date. Gross IRRs do not reflect management fees, carried interest, taxes, transaction costs and other expenses to be borne by investors in the Fund, which will reduce returns and in the aggregate are expected to be substantial; for a description of such management fees and carried interest, please see the final confidential private placement memorandum. While Carlyle believes that projected returns for unrealized investments are based on assumptions and valuation methodologies that are reasonable under the circumstances, the actual realized returns on Carlyle’s unrealized investments