Carlyle Group The Latest to Bulk Up In-House IR
With its hiring of Debra Pederson, Carlyle Group is the latest in what's sure to be a trend of buyout houses bulking up their in-house fundraising teams. The move comes as the SEC has moved to ban venture and buyout funds from using placement agents to drum up commitments from public pension funds as a result of the recent "pay-to-play" scandal at the New York State Common Retirement. Carlyle Group became embroiled in the scandal through a fund it jointly operates with Riverstone LLC; as a result the firm announced it would cease to use placement agents as part of a code of conduct enforced by Andrew Cuomo. Even firms which are not fundraising may look to bulk up their investor relations team at a time when investors are cash-strapped and concerned about the performance of their investments in private
