Meet private equity’s new leaders

First in line is Carlyle Group's new chief investment officer

New York Weekend Edition /
Feb.February 04, 2018 12:32 PM

(Credit from back: Pexels, Pixabay)

Many of America’s biggest private equity firms are at a turning point.

Founders are looking to pass off the reigns to a new generation who will be the next decision-makers on what and where to invest, which means, as the Washington Post reports, there’s a new set of faces to know.

“All the big firms are transitioning from the founders… and the chief investment officer is really key,” said Colin Blaydon, Dartmouth’s Tuck School of Business former dean and founder of the school’s Center for Private Equity and Entrepreneurship, to the Post. Some of the firms on the precipice of change include Blackstone Group and KKR & Co.

For limited partners in a private equity firm returns are “all they really care about,” as Blaydon put it, so the new chief investment officer is a role with a lot of expectations riding on it. So all eyes were on Carlyle Group as the firm recently announced the man they’re tapping to manage $174 billion worth of their investors’ funds.

Peter Clare. (Credit: Carlyle Group)

Peter Clare, the “unassuming and decent” yet “intense” veteran of the investment business, will work alongside Carlyle co-founder William E. Conway Jr. as co-chief investment officers.

“If we are writing a check for over $1 billion, I want Pete Clare’s judgment on whether or not we should do that transaction,” Conway said to the Post. “I expect him to work primarily on Carlyle’s largest funds.”

Clare, who is known as much for the deals he passed on as the ones he made a fortune doing, is “a regular guy” to Conway, albeit one with a laser focus. When asked what he does to relax, Clare answered, “I increase ­EBITDA multiples.” Normal is relative, especially when billions of other people’s money are in the balance. [WP] Erin Hudson


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Acore Partner Warren de Haan. (Acore, Getty)
Acore Capital raises $1B to provide rescue cash to hotels
Acore Capital raises $1B to provide rescue cash to hotels
 61 Bond Street in Brooklyn, iStar's Jay Sugarman and GFI's Allen Gross (Photos via Google Maps, iStar and Urban Land Institute)
GFI sells ground under Ace Hotel in Brooklyn for $45M
GFI sells ground under Ace Hotel in Brooklyn for $45M
AKA United Nations at 234 East 46th Street (Google Maps, iStock)
Bank forecloses on Prodigy’s AKA United Nations hotel building
Bank forecloses on Prodigy’s AKA United Nations hotel building
From left: 410 Tenth Avenue, 100 Park Avenue, a rendering of 230 East 20th Street, a rendering of 30 Morningside Drive, SL Green's Marc Holliday (Photos via Google Maps, Getty, Gramercy Square, 30 Morningside Drive/Illustration by Kevin Rebong for TRD) 
These were the largest Manhattan real estate loans in January
These were the largest Manhattan real estate loans in January
Ron Perelman with 27-33, 35 and 41 East 62nd Street (Getty; Google Maps)
Citi looks to sell $193M in defaulted loans on Ron Perelman’s buildings
Citi looks to sell $193M in defaulted loans on Ron Perelman’s buildings
Bank of America puts $10B toward affordable homeownership
Bank of America puts $10B toward affordable homeownership
Bank of America puts $10B toward affordable homeownership
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...