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
Oman oil price rises to $56.21
The figures also showed that USA oil production rebounded to pre-hurricane levels, rising to more than 9.5 million barrels a day. West Texas Intermediate crude were down 36 cents to $52.11 U.S., after closing at a six-month high in the previous session.

26 October 2017
U.S. under Trump Series: House GOP begins investigating Russia Uranium deal
Ms Clinton said she believed Mr Comey eve of election intervention had been a key factor in her surprise defeat to Donald Trump . President Trump has criticized the agreement throughout the campaign saying that Clinton made a fortune thanks to the agreement.

26 October 2017
Mersal box-office collection: Vijay's film likely to beat Enthiran in TN
Adirindhi stars Vijay in triple roles and has a powerful supporting cast which includes Samantha, Kajal Aggarwal and Nithya Menon. The movie has had a sensational opening weekend at the box office in Tamil and is poised to cross 150 Cr Gross worldwide soon.

26 October 2017
BLU launches its first true selfie-centric smartphone, the VIVO 8L
On the front, the smartphone features a 20-megapixel "Super Selfie" camera with 1/2.8-inch sensor, an f/2.0 aperture and 5P lens. The Vivo 8L is a lower and selfie-focused variant of the Vivo 8 smartphone that was launched by the company in August this year.

26 October 2017
Suffolk officials charged with covering up disgraced police chief's sex-toy beatdown
Krantz & Berman name attorney Larry Krantz, who is counsel for McPartland, also could not be immediately reached for comment. Loeb later confessed to the burglary, but alleged that his confession was involuntary because he was assaulted by Mr.

26 October 2017
Amgen Inc. Setting The Table For Earnings
Hightower Advsr Ltd Company has invested 0% of its portfolio in NOW Inc (NYSE:DNOW). 1,848,115 shares of the company traded hands. The medical research company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16.

26 October 2017
Tesla rapidly installs solar power at a children's hospital in Puerto Rico
Tesla's first microgrid project in the U.S. territory will be at Hospital del Niño, the company announced on Tuesday on Twitter. But Tesla said it's the "first of many" projects to come, so we can expect other microgrids to crop up around the island soon.

25 October 2017
Alabama among states in $220 million Deutsche Bank settlement
Last year, Barclays Bank PLC and Barclays Capital agreed to pay $100 million nationally, as part of a 44-state settlement. Deutsche Bank paid $2.5 billion in penalties and disgorgements to resolve investigations in the U.S. and U.K.

25 October 2017
Bears Acquire WR Dontrelle Inman From Chargers
The Bears are hoping that a change of scenery (and a larger opportunity) help Inman realize his potential. Inman started all 16 games, notching career highs with 58 catches, 810 yards and four touchdowns.

25 October 2017
Get more militants to surrender: Mehbooba Mufti
The chief minister also asked police to be different from militants and refrain from taking retaliatory action. She further said efforts must be made to ensure that local militants surrender.