News Release

Former SEC Chairman Arthur Levitt to Join The Carlyle Group


WASHINGTON, DC - Arthur Levitt, the former chairman of the Securities and Exchange Commission (SEC), is joining The Carlyle Group, a leading global investment firm.

Mr. Levitt, who was the longest serving SEC chairman in history, will act as senior advisor to Carlyle on a variety of matters relating to the firm's private equity investment activities. He will join Carlyle on May 1st.

"Arthur Levitt has had an extraordinarily distinguished career in both business and government. As Chairman of the SEC, he demonstrated his strong leadership skills and his deep concerns about the importance of investor protections," Carlyle Chairman Frank Carlucci said in making the announcement. "We are very fortunate to have Arthur affiliating with Carlyle, and we are confident that he will make a significant contribution to the firm."

The 25th chairman of the SEC, Mr. Levitt served from 1993 through March of this year.

In accepting the position, Mr. Levitt stated his longtime admiration for Carlyle's accomplishments. "I have known a number of the principals of Carlyle for many years, admire what they have built in the private equity area, and look forward to working in a professional capacity with them and their colleagues."

Before joining the SEC, Mr. Levitt served, from 1989 to 1993, as chairman of the New York City Economic Development Corporation and, from 1978 to 1989, as chairman of the American Stock Exchange.

Prior to joining the American Stock Exchange, Mr. Levitt worked for sixteen years on Wall Street. He graduated Phi Beta Kappa from Williams College in 1952 prior to serving two years in the United States Air Force.

In related news, Afsaneh Beschloss, until recently treasurer and chief investment officer of the World Bank, also joins Carlyle as a managing director and partner May 1st.