Carlyle Group unveils new leadership as founders step back

The Carlyle Group will be making changes to its executive staff in January, the firm announced Wednesday.

Lee, Youngkin, and Clare will also join Carlyle's board of directors.

"These promotions ensure continuity in our leadership", the three co-founders said in a joint statement, which described Mr Youngkin as a "business builder, exceptional communicator and culture carrier" and Mr Lee as a "decisive leader and successful investor". In the new co-CEO arrangement, Lee will focus on corporate private equity and credit businesses, and Youngkin will focus on Carlyle's real estate, energy and infrastructure businesses, Carlyle said in the press release.

Carlyle, whose investments over the years have included vehicle rental company Hertz Global Holdings Inc, photo agency Getty Images Inc and consumer headphones maker Beats Electronics LLC, is a much more diverse and global investment firm since its launch in 1987.

As of June 30, 2017, Carlyle has $170 billion of assets under management. It employs more than 1,550 people in 31 offices across six continents.

Conway, a prolific dealmaker, will retain his role as Carlyle's chief investment officer.

David Rubenstein steps down as co-CEO of The Carlyle Group after a 30-year tenure.

Kewsong Lee, now deputy chief investment officer for private equity and head of global market strategies, and Glenn Youngkin, president and chief operating officer, will become co-chief executive officers of the group.

Carlyle was founded by in 1987 in Washington, Rubenstein, Conway and D'Aniello.

Like this


26 October 2017
DEATHSTROKE Solo Film With THE RAID Director In Talks
Assuming deals close for Evans and Manganiello, fans will undoubtedly keep a close eye on just how fast this moves through development.

26 October 2017
Destiny 2 PC Players Are Still Being Banned Without Reason
We're hopeful that Bungie will issue a statement as to the nature of the bans and that more explanation will be provided. Since then, Bungie appear to be doubling down on the idea that players who received bans were up to no good.

26 October 2017
Sketches released in case of Sherri Papini's abduction
Either way, Jackson said investigators won't reveal what they do know about the brand "for the integrity of the investigation". The FBI has released sketches of the suspects wanted in connection to the kidnapping of a Shasta County mother past year .

26 October 2017
Now Lonzo Ball Has John Wall To Deal With
TMZ recently caught up with #Charles Barkley , and he explained what he would have done to Ball if they played against each other. Many are exhausted of hearing LaVar Ball boast about his son Lonzo Ball , but Wizards coach Scott Brooks isn't one of them.

26 October 2017
Robbie Williams reveals he cancelled tour after "very worrying" test results
Last month, Robbie said he feared that fame would eventually "kill" him , as he opened up about his mental health. In September, Robbie Williams cancels his tour of Russian Federation due to illness.

26 October 2017
Tar Heels guard Joel Berry breaks hand after punching door
But on Wednesday, during the annual ACC Media Day head coach Roy Williams revealed exactly how Berry broke his hand. The University of North Carolina reportedly could open its 2017-18 season without one of its best players.

26 October 2017
Thierry Henry reacts to Arsenal's 5-2 win over Everton
But if you are negative thinking, and everybody is doing that in this moment, all these kinds of decisions are not in my hands. How Koeman must wish he could call on the pace of a player like Sanchez, the creativity of Ozil or the finishing of Lacazette.

26 October 2017
Boulder weather: Temperatures to approach 80 today ahead of possible snow
The weather will improve a bit Saturday , when mostly sunny skies and a high around 45 are expected. Sunday night , it will be partly cloudy with a low of 37, according to the weather service.

25 October 2017
Australian woman fatally attacked by dog
The man who was attacked received a bite to his leg that was non-life-threatening, and has been treated in hospital. A dog killed a woman and injured a man at a house in Canberra in the early hours of this morning.

25 October 2017
Clippers Beat Jazz 102-84; Griffin And Beverley Stars
Utah is 2-2 on the season and will be without Rodney Hood, one of the team's best scorers, for the third consecutive game. The Clippers did play excellent defense but if the Jazz wants to win games, they will need to take care of the ball more.