Private equity firm Carlyle going public

Carlyle Group is planning to raise US$100 million through an initial public offering. The private equity firm is going public even as fears about the global economy have punished stock markets. Many companies cancelled their IPOs in August.

Private equity firms buy companies and later try to sell them for more money. They often borrow money to fund their purchases. The business slumped during the recession.

Other large private equity companies have gone public recently. Blackstone Group's IPO was before the Great Recession, while KKR & Company and Apollo Global Management listed after markets began to recover from the downturn.

Carlyle, based in Washington, did not say how many shares it plans to sell, or for how much. The IPO's value may change as banks gauge demand for the stock.