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Carlyle and Apollo see benefits from changing structures

Private equity firms say change to corporations from partnerships could broaden ownership

Executives from private equity firms Carlyle Group and Apollo Global Management expressed optimism on Thursday about the prospect of broader ownership of their stocks after both firms opted earlier this year to abandon their partnership structure to become corporations.

Such a move became a desirable option for private-equity firms after Congress passed the new tax law in late 2017, which lowered the highest corporate rate to 21% from 35%.

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