After graduating from Duke University in 1970 and the University of Chicago Law School in 1973, Rubenstein worked as an attorney in New York City. During the Jimmy Carter administration, he served as deputy assistant to the President for domestic policy. In 1987, he co-founded the Carlyle Group in Washington, DC.

With $88.6bn (€70.5bn) in assets under management, US investment fund Carlyle Group has been steadily growing in spite of the difficult global financial environment. David Rubenstein, the fund's co-founder, expounded on Carlyle's experience in Japan and the future of the Japanese buyout market in an exclusive interview with The Nikkei Veritas.