Carlyle adds three to management committee

Carlyle has expanded the team that executes its corporate strategy to include the heads of fund investor relations, global external affairs and global market strategies.

The Carlyle Group has named three new executives to its management committee, bringing the total number of committee members to nine.

Carlyle added head of fund investor relations Michael Arpey, head of global external affairs David Marchick and head of global market strategies Mitch Petrick.

The firm’s management committee “develops and executes Carlyle’s corporate strategy”, according to a statement. Arpey, Marchick and Petrick’s primary responsibilities will not change, Carlyle director of global communications Chris Ullman told Private Equity International, and none of the committee’s members have been named as part of a succession plan.

Arpey’s appointment to the committee reflects the importance of Carlyle’s innovative and uniquely structured product offerings he has helped spearhead during the past two years. Since joining the firm in 2010, Arpey helped lead an initiative to open a liquidity window for the firm’s limited partners by allowing LPs in Carlyle Partners VI to sell all or portions of their fund stakes twice a year. The structure – which includes five secondary firms that will buy fund interests from selling LPs – could help alleviate concerns about long lock-up periods, LP sources have told Private Equity International in previous interviews.

“We pride ourselves on innovation in terms of coming up with new things that our investors want, and Mike is certainly part of that,” Ullman said, adding that part of Arpey’s mandate at Carlyle has been to help develop managed accounts and other product services for the firm’s investors.

The additions to Carlyle’s management committee are the first since March 2011 when the firm hired chief financial officer and managing director Adena Friedman from The NASDAQ OMX Group.

The other members of Carlyle’s management committee are co-chief executive officers Bill Conway and David Rubenstein, chairman Daniel D’Aniello, general counsel Jeffrey Ferguson and chief operating officer Glenn Youngkin.