Stephen L. Norris
Financial Consultant
In 1987, Mr. Norris co-founded The Carlyle Group, a private equity and LBO firm in Washington, DC where he served as a founder and Managing Director until 1995.
During his tenure in the investment business, Mr. Norris has made, directed or participated in over 125 leveraged buyouts, venture capital and real estate (including office, multi-family, storage and warehousing) equity investments totaling more than $6.0 billion, and yielding an average annual internal rate of return (IRR) of over 38%. Mr. Norris structured and negotiated investments aggregating over $1.0 billion on behalf of a prominent Middle Eastern investor in Citicorp, Euro Disney, and the Four Seasons Hotel Company. These investments have returned well over $10 billion. Mr. Norris also served on the board of directors of major Carlyle Group investments.
Mr. Norris possesses substantial experience in providing strategic business advice to portfolio companies. During his career, Norris has structured, negotiated and closed transactions including growth capital opportunities, industry consolidation strategies and successful initial public offerings.
In 1990, Mr. Norris was appointed by former President George H. W. Bush and confirmed by the U.S. Senate as one of the five members of the $68 billion Federal Retirement Thrift Investment Board. During his tenure, Mr. Norris successfully advocated for the right of Federal employees to allocate a greater portion of their savings to public equities.
Prior to 1987 Mr. Norris served as Corporate Vice President of Marriott Corporation, where he was a strategist and advisor for the company’s public and private financing and limited partnerships, as well as over $3.0 billion in mergers, acquisitions, and asset divestitures. He headed and had budget responsibility for the tax department.
Mr. Norris has served on the Board of Directors for numerous portfolio companies, including SynXis, MARC Global Holding Inc, Alloptic, GTX, Intellispace, Forum and Carey Pharmaceuticals Inc. Mr. Norris served as a law clerk on the U.S. Tax Court. Mr. Norris has BS, JD and LLM (tax) degrees magna cum laude, from the University of Alabama,New York University and Yale Law School.
