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SLIDESHOW: A Look At Carlyle’s Next Generation

Peter Clare says leading an industry group at The Carlyle Group is “The best job in the world.”

But the gig ended in March, after Carlyle promoted the 46-year-old head of Carlyle’s aerospace and defense group to co-head of the U.S. Buyout group. Suddenly Clare was overseeing more than 60 investment professionals charged with deploying Carlyle’s $13.7 billion fifth buyout fund across six sectors: aerospace and defense, industrial, health care, consumer and retail, technology and business services, and telecommunications and media.

Since then, the magna cum laude grad of Georgetown University with an MBA from the University of Pennsylvania’s Wharton School has embarked on yet another education, seeking a better understanding of the sectors in which Carlyle invests and of how macro-economic trends affect the buyout market in general, according to a profile of Clare in the current issue of sister magazine Buyouts.

“I speak a lot more these days with our partners in Europe and Asia than I did previously, when I had a more narrow industry focus,” Clare said. “Now I want to find out, ‘What does our real estate team think about the state of world? What does our debt team think about state of the world?'”

Already, Clare’s outlook on the economy has evolved. Earlier in the year, Clare seemed sure the United States was on pace for a strong recovery, citing low interest rates, government stimuli, growth in emerging markets, and record corporate profits thanks in part to Great Recession-inspired cost reductions.

“Clearly our view is not as optimistic as it was six months ago,” said Clare, who expects 0 percent to 2 percent gross domestic product growth over the next few years. “But personally, I still am more optimistic about the U.S. economy than what I think the consensus is now.”

As co-head of U.S. buyouts, Clare is among what is widely seen as Carlyle’s next generation of leaders who will be taking on more responsibility in the years to come, as firm founders Bill Conway, David Rubenstein and Daniel D’Aniello, who are all in their early to mid-60s, approach retirement (not that that’s happening anytime soon. “I’m not going anywhere,” Conway told Buyouts). Here are a few of the other up-and-comers, all of whom are managing directors, in alphabetical order.


[slide title=”Mike Arpey”]

Age: 48

Title: Head of Investor Relations

Joined Firm: 2010

Career Highlights: Former managing director in Credit Suisse’s asset management division, where he was co-head of the customized fund investment group.

[slide title=”Adena Friedman”]

Age: 41

Title: CFO

Joined Firm: 2011

Career Highlights: Former CFO and executive vice president of corporate strategy for The NASDAQ OMX Group. Was responsible for identifying M&A opportunities for NASDAQ as head of corporate strategy from 2003 to 2011.

[slide title=”No. 8: Dave Marchick”]

Age: 45

Title:Global Head of External Affairs

Joined Firm: 2007

Career Highlights: Was formerly a partner at Covington & Burling LLP, where he advised U.S. and foreign companies on regulatory and strategic issues. Co-author of the book “U.S. National Security and Foreign Direct Investment.”

[slide title=”Mitch Petrick”]

Age: 49

Title: Head of global market strategies

Joined Firm: 2010

Career Highlights: Twenty year veteran of Morgan Stanley, where he was managing director and global head of institutional sales and trading.

[slide title=”Wayne Tsou”]

Age: 44

Title: Head of Carlyle Asia Growth Partners

Joined Firm: 2004

Career Highlights: Started Carlyle’s growth capital business in Asia. Prior to joining Carlyle, spent seven years with Warburg Pincus, where he was head of technology investments in Asia.

[slide title=”X.D. Yang”]

Age: 46

Title: Co-Head, Carlyle Asia Partners

Joined Firm: 2001

Career Highlights: Helped lead acquisition of China Pacific Insurance. Prior to Carylyle, the China native spent nine years at Goldman Sachs, where he helped lead private equity investments in Asia.

[slide title=”Glenn Youngkin”]

Age: 44

Title: COO

Joined Firm: 1995

Career Highlights: Global head of industrial sector investment team from 2005 to 2008; led Carlyle’s buyout activities in the U.K. from 1995 to 2000.