News Release

The Carlyle Group Announces New Leadership Roles


Washington, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced two senior executives have taken on additional roles within the firm.

Kewsong Lee, in addition to his current role as Deputy Chief Investment Officer for Corporate Private Equity, will now also supervise the Global Market Strategies segment. Managing Director Mitch Petrick will step down from the position and become a Senior Advisor to the firm. Mr. Petrick intends to form his own investment management company.

Glenn Youngkin, in addition to his current role as President & COO, will now also supervise the Energy and Natural Resources group. Kenneth Hersh will become Deputy Chief Investment Officer for Energy and Natural Resources, reporting to Carlyle Chief Investment Officer Bill Conway. Mr. Hersh was recently named President and CEO of the George W. Bush Presidential Center in Texas but will continue to devote his time to Carlyle’s Energy and Natural Resources group.

Carlyle Co-CEOs William E. Conway, Jr. and David M. Rubenstein said, “We are pleased that Kew and Glenn have agreed to take on these additional roles. Carlyle has a remarkably deep bench of talent and these senior colleagues will serve our investors well.”

They added, “We are grateful to Mitch for his significant efforts building GMS. Mitch and his team have grown the GMS platform, developing numerous scalable investment strategies. Carlyle intends to continue to invest in and build out the GMS platform. We wish Mitch well in his future endeavors.”

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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $178 billion of assets under management across 125 funds and 164 fund of funds vehicles as of March 31, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 36 offices across six continents


Elizabeth Gill

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