Pete Clare, who has been with Carlyle Group Inc. for three decades, is leaving after being passed over for the top job at the private equity firm.
(Bloomberg) — Pete Clare, who has been with Carlyle Group Inc. for three decades, is leaving after being passed over for the top job at the private equity firm.
Clare — chief investment officer of corporate private equity, chairman of the Americas and a member of the board — will leave the Washington-based company on April 30, after assisting with a transition, according to a regulatory filing Monday. Clare, 57, also will step down from the board.
Earlier this month, Carlyle chose former Goldman Sachs Group Inc. Co-President Harvey Schwartz to be its next chief executive officer as the private equity firm looks to move past a long-running succession challenge. Schwartz, 58, took the job after Kewsong Lee resigned in August following a power struggle.
Members of Carlyle’s board, who had been debating whether to tap an external candidate or hire from within, recently considered a shortlist that included Clare and credit head Mark Jenkins.
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