Chief financial officer of The Carlyle Group Peter Nachtwey is leaving the firm to become CFO at asset management firm Legg Mason. Nachtwey will be replaced on a temporary basis by managing director Glenn Youngkin until a successor is chosen.
Nachtwey was responsible for Carlyle's investor reporting, internal controls and financial management. He was appointed CFO in 2007, replacing John Harris, who held the position for 10 years before retiring. Nachtwey's future plans are unclear.
Prior to joining Carlyle, Nachtwey worked at financial services firm Deloitte & Touche, where he was the lead partner on work relating to one of the firm's largest private equity clients – The Blackstone Group – and was the Northeast regional managing partner for the investment management sector.
Nachtwey's departure comes as Carlyle mulls a public offering, a move the firm has been considering for years. Carlyle last week revealed plans to take a majority stake in the $4.5 billion credit hedge fund Claren Road Asset Management, a move some analysts say could have been motivated by Carlyle's IPO plans, as having diversified revenue streams may matter most in the eyes of investors.
It would be the third IPO of a major private equity firm following The Blackstone Group, which went public in 2007, and Kohlberg Kravis Roberts, which listed on the New York Stock Exchange in July.