Global private equity firm The Carlyle Group has named managing director Peter Clare as the new head of its global aerospace, defence and government services industry group.
Clare, who’s been with Carlyle for 12 years, succeeds managing director Allan Holt, who according to a press statement will focus more of his time on co-managing Carlyle’s US buyout activities.
Since joining Carlyle in 1992, Clare focused on buyout opportunities in the aerospace, defence and government services and technology sectors. He had leading roles in several of the firm’s noteworthy investments, including United Defense, Magnavox Electronics and Federal Data. From March 1999 to January 2001, he was a founding member of Carlyle Asia and was based in Hong Kong.
Clare originally came to Carlyle from First City Capital Corporation, a private equity group that invested in leveraged buyouts, public equities, distressed bonds and restructurings.
Carlyle’s most recent transaction in the aerospace sector was the acquisition last month of aviation services company Garrett Aviation from General Electric. In total, according to a statement form the firm, Carlyle has invested in 29 such transactions with a total value of more than $7 billion.