Carlyle veteran Peter Clare to retire after more than three decades

·1 min read
FILE PHOTO: The logo of The Carlyle Group is displayed at the company's office in Tokyo

NEW YORK (Reuters) - Carlyle Group veteran and chief investment officer of its corporate private equity business, Peter Clare, will retire on April 30, weeks after the buyout firm named former Goldman Sachs Inc executive Harvey Schwartz as its chief executive.

Clare, who joined Carlyle in 1992, has held several senior leadership roles in the unit. In 2018, he became co-chief investment officer and was elected to the company's board.

Carlyle also said on Monday Sandra Horbach and Brian Bernasek, currently co-heads of U.S. buyout and growth platform, will assume the role of co-heads of the Americas to oversee the firm's private equity business effective immediately.

Under Horbach's leadership of the U.S. buyout and growth business, the team has invested more than $35 billion in eight years, the firm said, while Bernasek has contributed on diversified investments across industries and geographies.

The appointments comes at a turbulent time for private equity firms as stubbornly high inflation, rising interest rates and geopolitical turmoil together crimped lucrative exits from investments.

Earlier this month, Carlyle reported a steep 52% slide in its fourth-quarter distributable earnings as the private equity firm cashed out on fewer investments as dealmaking slowed.

(Reporting by Anirban Sen in New York and Manya Saini in Bengaluru; Editing by Sharon Singleton and Arun Koyyur)