Carlyle head talks private equity, carried interest — and panda bears: VIDEO

David Rubenstein, co-founder of the Carlyle Group, one of the largest private equity firms in the world — and holder of more than $12 billion in real estate worldwide — told CNBC this morning about his philanthropic work with pandas, his humble childhood as the son of a postal worker and how he believes the private equity industry creates jobs and has “revolutionized American business” (see video above).

On carried interest, or a “promote,” — a compensation structure that applies to investors in private equity funds and some investors in real estate — Rubenstein avoided endorsing a stance, saying instead that the concern should be on the deficit. Eliminating “carried interest isn’t going to solve the problem,” he said.

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He also told CNBC how Carlyle, which announced its sixth real estate fund in January, with $2.34 billion at its disposal, was a project he began later in life, at 38, after he had practiced law and worked in politics.

He also reiterated his commitment to philanthropy. “I started a company and it took off and I did get fortunate to make more money than I probably can spend, and therefore, I’m committed to giving away the bulk of it,” Rubenstein said. [CNBC] — Guelda Voien