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Carlyle to beef up credit unit after Mark Jenkins hire

  • Jenkins led acquisition of Antares by CPPIBC
  • arlyle planning to add people, resource, products
  • Exec named to new position at Carlyle Group

 

Carlyle Group plans to add resources, products and people to its Global Market Strategies unit after the firm tapped Mark Jenkins for the new post of managing director and head of global credit, a source said.

The unit, which manages $34 billion, may expand in Europe and Asia as Carlyle moves to make it “dramatically bigger,” this person said.

A 23-year veteran of the industry, Jenkins most recently was senior managing director and global head of private investments at Canada Pension Plan Investment Board, where he led the $12 billion acquisition of Antares.

Jenkins managed about $43 billion in assets at CPPIB’s global private investment group. He’ll start at Carlyle at the end of September, according to a statement from the firm.

New York-based GMS, which employs more than 200, is expected to increase its ranks under Jenkins and his boss, Kewsong Lee, Carlyle’s deputy chief investment officer for corporate private equity and head of Global Market Strategies.

In a statement, Lee said credit stands out as “an important strategic priority.”

GMS includes loans and structured credit, private credit, energy credit, and distressed credit. GMS funds include structured vehicles and other investment products in the U.S., Europe and Asia.

Funds under the GMS unit include Carlyle Strategic Partners IV LP and Carlyle Energy Mezzanine Opportunities Fund II LP.

Carlyle manages about $19 billion as one of the largest players in collateralized loan obligations. It also takes part in direct lending through privately held business-development companies.

Shane Feeney, formerly head of direct private equity for CPPIB, was named senior managing director to succeed Jenkins.

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Mark Jenkins, former senior managing director and global head of private investments at CPPIB. Photo © Copyright 2016 CPP Investment Board