Carlyle hires head of private client group

Jeffrey Holland, former COO of US retail at BlackRock, has joined Carlyle’s New York office.

The Carlyle Group has named Jeffrey Holland as head of the private client group and managing director in its New York office, according to a statement. His first day was 17 March.

Holland joins Carlyle from Arizona-based Cole Real Estate Investments, where he was the president and chief operating officer overseeing the private capital and real estate groups. He joined Cole in late 2010 as an executive vice president and head of capital markets, according to a previous statement from Cole. Holland was previously a managing director and COO of US retail at BlackRock, where he was responsible for corporate strategy and financial management. He also worked at financial services firm Raymond James & Associates and at McKinsey & Company.

In the newly-created role, Holland will oversee the group that focuses on Carlyle’s relationships with individual investors. The private client group manages arrangements with bank feeder funds and other financial advisors through which high net-worth individuals access Carlyle’s alternative asset retail products. Holland will also develop and market additional products that could become available, including credit-oriented funds, hedge funds and other trading strategies. Carlyle’s retail business previously did not have a formal group overseeing it.

“Providing qualified individuals greater access to alternative assets and developing new products and platforms that are accessible to retail investors and mutual funds is a priority for Carlyle,” co-chief executive officer David Rubenstein said in a statement. Retail investors committed $2 billion to Carlyle in 2013, through feeder fund partners, the firm said during an earnings call in February.