Peter Nachtwey, chief financial officer for buyout shop The Carlyle Group, has resigned, Reuters reported, citing a story in the Financial Times. The departure could delay Carlyle’s planned initial public offering, Reuters said. Natchtwey will be replaced by Glenn Youngkin in the interim. Youngkin is the chairman of Carlyle’s operating committee and serves on the firm’s executive committee. Nachtwey joined Carlyle in 2007 after working for Blackstone Group.
(Reuters) – Carlyle Group’s [CYL.UL] Chief Financial Officer Peter Nachtwey has resigned and the move could delay the U.S. private equity firm’s planned initial public offering, the Financial Times said, citing people familiar with the matter.
Nachtwey, who joined Carlyle in 2007 after working on Blackstone Group’s debut on the New York Stock exchange, will be replaced by Glenn Youngkin in the interim, according to the newspaper.
Carlyle Group could not be immediately reached for comments by Reuters outside regular U.S. business hours.
The IPO has been delayed by the complex structure of the company that runs dozens of funds, where fund managers do not have equity in the firm – making the accounting process more complex and time consuming, the FT said, quoting people familiar with the situation.
(Reporting by Abhinav Sharma in Bangalore; Editing by Hans Peters)