New York - Global private equity firm The Carlyle Group today announced that Michael "Mitch" Petrick will join the firm as Managing Director and Global Head of Credit Alternatives and Capital Markets, a new position, as well as become a member of the firm's Operating Committee. Mr. Petrick, who joins Carlyle after a 20-year career at Morgan Stanley, where he was Managing Director and Global Head of Institutional Sales and Trading, will be based in New York and begin his duties in late March. William E. Conway, Jr., Carlyle Co-founder and Chief Investment Officer, said, "Mitch is a significant addition to our senior management team. With a proven track record of delivering absolute returns and leading complex enterprises, Mitch will play a central role in expanding the scope and depth of our credit and capital markets business." Mr. Petrick said, "I am delighted to join Carlyle at this opportune time in the credit market cycle. We will build upon the strong performance of the global credit platform generated over the past year during very challenging markets. Carlyle is a storied firm in an important industry and I am eager to be a part of its exciting future." In this new position, Mr. Petrick will lead Carlyle's array of leveraged finance, mezzanine and distressed teams, a total of 24 funds with $13 billion in assets managed by 57 investment professionals. In addition to being Global Head of Institutional Sales and Trading since 2008, Mr. Petrick presided over numerous businesses at Morgan Stanley during his 20-year career, including: Global Head of Corporate Credit; Global Head of Non Investment Grade; Global Head of Distressed Investing; and Global Head of Leveraged Finance and Restructurings. In these various capacities, Mr. Petrick was responsible for a diverse set of asset classes including: equities, commodities, corporate, residential, commercial, proprietary trading, tax and direct investments. Mr. Petrick, 48, earned his M.B.A. in Finance from the University of Chicago and his B.S. in Chemistry and Economics from Grinnell College. # # # |
