Steve Sterling is a Managing Director and Head of Research for the High Yield group. Mr. Sterling has over 20 years of leveraged credit experience in leadership, originator and credit roles His experience encompasses all major industry groups, company sizes (including middle market to large corporate) and transaction types (such as leveraged buyouts, recapitalizations, acquisitions, cross-border, etc.). He is based in New York.

Prior to joining Carlyle, Mr. Sterling was a Senior Managing Director at Bear Stearns directly responsible for managing Bear Stearns’ High Yield Capital Markets Group, which includes both high yield bonds and leverage loans, and Leverage Loan Sales team. Mr. Sterling was a member of Bear Stearns’ Principal Activities Committee which is the governing body responsible for approving the firm’s high yield commitments. While at Bear Stearns, Mr. Sterling implemented changes to improve the firm’s effectiveness, including convergence of leverage loan and high yield capital markets, industry-focused verticals with a supportive staffing model and a series of changes to sales coverage to drive improved customer focus and production.

Prior to joining Bear Stearns in June, 2006, Mr. Sterling was a Managing Director at Lehman Brothers directly responsible for managing Lehman’s Leverage Loan Capital Markets, Sales, Trading and Portfolio Management business. Additionally, Mr. Sterling served on Lehman’s High Yield Committee which similarly approved the firm’s capital commitments. While at Lehman, Mr. Sterling played an important role in moving the business from 21st to 7th in leverage loan league tables, growing revenues ten fold to nearly $200 million and implementing a sales and trading strategy that drove a 30% increase in trading volume, record CLO origination revenues and early leadership in LCDS. Prior to joining Lehman Brothers in April, 2000, Mr. Sterling’s career was at Bank of America wherein he held various positions including direct responsibility for West Coast leverage finance, managing a loan syndication team focused on chemical and energy companies and other credit and loan syndication roles.

Mr. Sterling received an M.B.A. in strategic management/finance from the Peter Drucker Graduate Management Center, The Claremont Graduate School and a B.S. in finance from California State University, Sacramento.