Carlyle hires operator for aerospace and defense

The firm has hired Peter Malone, co-founder of aerospace advisory firm CSP Associates, as its 25th operating executive.

The Carlyle Group has hired Peter Malone as an operating executive in the Aerospace, Defense & Government Services group, according to a statement from the firm.

Malone will help Carlyle source new acquisitions and advise portfolio company management teams. Investments overseen by the Aerospace, Defense & Government Services group include industrial company Sequa and aerospace parts distributer Wesco Aircraft. Malone brings Carlyle’s team of operating executives to 25.

“We believe Peter’s depth and scope of strategic and business experience in the aerospace and defense arena will help us to create value in our existing portfolio and to make new promising investments,” managing director and head of the Global Aerospace, Defense & Government Services group Adam Palmer said in the statement. 

Previously, Malone co-founded CSP Associates, which provides transaction advisory services to corporate clients, institutional lenders and private equity sponsors in the aerospace, defense and government services sectors. Last year, CSP advised Carlyle on its acquisition of Landmark Aviation, according to CSP’s website. 

Carlyle is in market fundraising for its sixth US-focused fund. The firm has surpassed the fund’s $10 billion target and had collected $10.3 billion as of August, Private Equity International previously reported. Carlyle has more than $180 billion of assets under management.