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Welsh Carson partner joins Carlyle as MD – Exclusive

Tony Ecock, who had been at Welsh, Carson, Anderson & Stowe for almost 10 years, will join four other NY-based managing directors in Carlyle’s Equity Opportunity Fund team.

Welsh, Carson, Anderson & Stowe (WCAS) general partner Tony Ecock is joining The Carlyle Group as a managing director, according to two people familiar with the matter.

Based in New York, Ecock begins his new position on 15 November and will join the Carlyle team focused on the Carlyle Equity Opportunity Fund (CEOF) series, one source told Private Equity International. The other person added that this is a newly created role at Carlyle, meaning he is not replacing anyone.

Ecock declined to comment.

In February, Washington, DC-based Carlyle closed its second vehicle in this series, CEOF II, on its $2.4 billion hard-cap. The fund seeks to acquire control stakes in mid-market companies by investing $20 million to $200 million in equity per deal, according to a statement from the firm at the time of the fund close. Its predecessor, CEOF I, launched in 2012 and raised $1.1 billion.

Excluding Ecock, there are four New York-based managing directors in the CEOF fund team, according to Carlyle’s website.

Ecock initially joined New York-based WCAS in April 2007, according to his LinkedIn profile. There, he focused on portfolio operations, helping companies with growth-oriented initiatives and operational improvement, his profile on the WCAS website indicated.

Including Ecock, there were nine general partners at WCAS, according to its website.

Prior to spending nearly 10 years at WCAS, Ecock was a vice president and general manager of the enterprise group at General Electric Healthcare, where he led a team focused on customer relationships and industry partners. He had also held positions at healthcare IT company Philips Medical Systems, life sciences manufacturer Agilent Technologies and software company Hewlett-Packard, according to his LinkedIn profile.

Earlier in his career, Ecock had been a partner at consulting firm Bain & Company and a senior financial analyst at engine manufacturer Cummins.

WCAS manages $7 billion in assets, according to PEI data. In June, the firm, which focuses on investing in information and business services and healthcare, held a final close on its latest fund, Welsh Carson Anderson & Stowe XII, on $3.33 billion, above its $3 billion target, as reported by PEI.

Ecock’s transition follows a sequence of people moves at Carlyle this year. In September, the firm created a new role, head of global credit, which was filled by Mark Jenkins from the Canada Pension Plan Investment Board.

The firm also reached a milestone by appointing its first woman head of a core business within Carlyle. In July, it named Sandra Horbach co-head of the US buyout team, which is also led by Peter Clare. Prior to that, Carlyle named two co-heads of its financial services team to replace Olivier Sarkozy, who resigned in May.

A Carlyle spokeswoman declined to comment.

A WCAS spokeswoman was not available to comment.