Clare will work alongside Allan Holt, the other co-head of the group, and will be based in Washington, reporting to Carlyle founder Bill Conway.
The move is the latest in a series of senior personnel shakeups at Carlyle. Dan Akerson left the role of buyouts head at Carlyle last year to assume the role of CEO and chairman at General Motors. Not all of Carlyle’s big news has come in the form of departures. The mega-LBO shop also lured Nasdaq CFO Adena Friedman to take the finance chief position there last month.
“Pete has built one of the best investment track records at Carlyle and he has done it across different geographies and asset classes,” Holt said. “He consistently builds strong teams and brings a focus and discipline to investing that has been the hallmark of Carlyle’s success.”
Clare came to Carlyle in 1992, bouncing between its U.S. buyout team and its Asia LBO unit before he launched its distressed debt team, leading to the development of Calyle Strategic Partners. Replacing Clare on the aerospace and defense unit is Adam J. Palmer, who becomes head of the sector team.