Stephen L. Norris is one of the co-founders of The Carlyle Group, an American private equity firm and previously the Chairman of Gulf Capital Partners. He is a former member of the Federal Retirement Thrift Investment Board, who was appointed by President George H. W. Bush and confirmed by the United States Senate in 1990. In July 2014, it was announced he had joined the Florida-based company Global Digital Solutions.[1]

Corporate career

Carlyle was founded in 1987 by five Washington executives: William E. Conway, Jr., Stephen L. Norris, David M. Rubenstein, Daniel A. D'Aniello and Greg Rosenbaum.[2] Rosenbaum left in 1987;[3] Norris left in 1995.[4][5] The three remaining founders are reported to collectively own around a 50% interest in the group's general partnership. The rest of Carlyle is owned by a group of individuals, most of whom serve as managing directors, and by two institutional investors. Prior to co-founding the Carlyle Group, Norris was a senior executive at Marriott Corporation.

In 2008, Norris announced a memorandum of understanding with the SCO Group, a Unix and Linux software company involved in lawsuits against IBM, Novell, and others. Under the terms of the plan, Norris would purchase a controlling interest in SCO for $100 million.[6][7]

In March 2009, Gulf Capital Partners, LLC, announced the appointment of Norris as the chairman of the board of directors. Gulf Capital Partners is a private equity firm based in Beverly Hills, California with offices in Dubai, Doha, and New York.

In July 2009, Norris joined the Board of Xinuos.

References

  1. ↑ "SCO Group plans to go private with $100 million investment". Deseret Morning News. Retrieved 2008-03-06.
  2. ↑ David A. Vise, "Area Merchant Banking Firm Formed," Washington Post, Oct. 5, 1987, F33
  3. ↑ Paul Farhi, "Chi-Chi's Bid Won D.C. Investment Firm Wall Street's Attention," Washington Post, June 6, 1988, F1
  4. ↑ John Mintz, "Founder Going Beyond the Carlyle Group," Washington Post, Jan. 9, 1995, F9
  5. ↑ Thornton, Emily "Carlyle Changes Its Stripes Archived June 26, 2012, at the Wayback Machine," BusinessWeek, February 12, 2007
  6. ↑ The SCO Group | Investor Relations | The SCO Group Announces Reorganization Plan to Include $100 Million Financing by Stephen Norris Capital Partners
  7. ↑ "Software company SCO gets help from Norris and a Middle East investor, hopes to go private". Associated Press/International Herald Tribune. 2008-02-15. Retrieved 2009-02-27.

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Further reading



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