Frank Carlucci, ex-Defense Secretary and Carlyle Chairman, dies at 87

Frank Carlucci, a former U.S. Secretary of Defense, who also served as chairman of The Carlyle Group, has passed away at 87.

The cause was complications from Parkinson’s disease, as reported by Bloomberg News.

Carlucci was vice chairman and then chairman of Carlyle from 1989 to 2003. He was also a co-founder of the Frontier Group, a St. Louis, Missouri-based private equity firm.

A former Navy officer and diplomat, Carlucci worked under four U.S. presidents starting with President Richard Nixon. He later became defense secretary under President Ronald Reagan from 1987 to 1989.

He also had other high-ranking government positions, which included serving as ambassador to Portugal in the mid-1970s and then deputy director of the Central Intelligence Agency under President Jimmy Carter.

On Carlucci’s passing, Carlyle issued a statement praising Carlucci for being “instrumental in transforming our boutique investment firm into a respected global institution. His wisdom, knowledge and stature helped us make smarter investments decisions and form fruitful relationships around the world.”