The Carlyle Group has hired Julius Genachowski as a managing director and partner on the U.S. buyout team. Genachowski, who is returning to the private sector after working for four years as chairman of the U.S. Federal Communications Commission, will focus on investments in global technology, media and telecom. Prior to the FCC, Genachowski helped build IAC/InterActiveCorp, which owned and operated multiple Internet and media businesses, including Expedia, Ticketmaster and USA Network.
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today named Julius Genachowski a Managing Director and partner in the U.S. Buyout team. He will focus on investments in global technology, media and telecom, including Internet and mobile. Mr. Genachowski is returning to the private sector after serving as Chairman of the U.S. Federal Communications Commission for four years, departing last May. He is an accomplished leader and expert in technology, media and telecom and brings to Carlyle almost 20 years of experience in the space. Mr. Genachowski joins Carlyle today and will be based in Washington, DC.
Allan Holt, Co-Head of the U.S. Buyout team, said, “We are pleased to welcome Julius to Carlyle. His addition makes a successful U.S. buyout team even stronger and better positioned to generate premium returns for our investors.”
Pete Clare, Co-Head of the U.S. Buyout team, said, “Deep industry specialization is core to our investment strategy and Julius brings a wealth of knowledge and experience to these sectors. His judgment about how these sectors will evolve will be invaluable to us.”
Mr. Genachowski said, “It’s an exciting time in the space, with an ongoing wave of innovation creating significant opportunities for investment. I’m grateful to have been part of developments around tech, media and telecom for many years, working with some of the best in the business, and I’m looking forward to joining my new and superbly talented Carlyle colleagues to help find and build businesses.”
Mr. Genachowski served as Chairman of the FCC from June 2009 to May 2013 and is credited with transforming the agency to focus on 21st century challenges and opportunities. He prioritized broadband, driving major initiatives to promote private investment and innovation around high-speed Internet, extend broadband access, accelerate the roll out of 4G mobile networks, free-up spectrum for wireless communications, enhance public safety communications, preserve Internet freedom, and foster competition. He presided during a period of robust innovation and private investment around communications technology and software, including broadband apps, devices and networks. Mr. Genachowski also extended the FCC’s international engagement, visiting more than 20 countries, and leading and participating in U.S. delegations and negotiations on agreements involving global Internet policy, spectrum, technology, national security, cybersecurity and privacy.
Mr. Genachowski worked for more than a decade in the private sector prior to his FCC appointment. He helped build IAC/InterActiveCorp, which owned and operated multiple Internet and media businesses, including Expedia, Ticketmaster and USA Network. He joined the company in 1997, when it consisted of two operating businesses (Silver King Broadcasting and HSN), and as a senior executive helped grow it, through acquisition and organically, to a company with numerous operating businesses, more than $6 billion in annual revenue and more than 25,000 employees globally. During this period, Business Week named Genachowski one of 25 “managers to watch” in the media sector.
Since leaving the FCC, Mr. Genachowski has taught a joint class at Harvard’s Business and Law Schools, and served as a Senior Fellow at the Aspen Institute, the non-partisan education and policy organization. Over the course of his career, he has been a Special Adviser at General Atlantic, a board member and advisor to several public and private companies, and a law clerk to United States Supreme Court Justice David Souter.
Since inception, Carlyle has deployed on a global basis more than $18 billion in equity in investments in the technology, media and telecom sectors. Investments include Syniverse Technologies, Nielsen, Dex Media, AMC Entertainment, Insight Communications, CommScope and SS&C Technologies.
Carlyle’s U.S. Buyout team recently completed the final close of Carlyle Partners VI, a $13 billion fund that invests in U.S. corporate buyouts and strategic minority investments across six industries. Two hundred sixty-nine investors from 43 countries committed capital to the fund.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $185 billion of assets under management across 122 funds and 81 fund of funds vehicles as of September 30, 2013. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,450 people in 34 offices across six continents.