The Carlyle Group hired Nike's Rory MacMillan as principal and director of external affairs for Europe, the Middle East and Africa. MacMillan held a similar position for Nike. Dow Jones Newswire reported:
"Rory's extensive public affairs and communications background will be a great asset to our investment teams and portfolio companies throughout Europe, the Middle East and Africa," said David Marchick, managing director and global head of external affairs.
Macmillan's role at Carlyle is a newly-created position and reflects the buyout industry's move to interact more closely with governments and regulators as the firm deepens it geographic and product reach throughout the region.
Carlye hired MacMillan to influence peddle in a PEU world. Private equity underwriters became ubiquitous in the new millennium, doing so by leveraging political influence. Carlyle sells directly to Uncle Sam, sponsors legislators who give PEU's preferred taxation and regulatory breaks. Carlyle benefits from insider access which helps co-founder David Rubenstein's government tea leaf reading.
While swooshing to Carlyle's rescue in Europe, Rory has an Edscha headache to clear. The Middle East has mostly forgotten the implosion of Carlyle Capital Corporation, given Carlyle's "Great Cash In" and looming IPO. Marchick already did the hard work, keeping Rubenstein out of the list of people needing to make amends for catering to Libya's Gadhafi. Rory might influence where Gadhafi's $118 million invested with Carlyle may end up.
Everything's globally fast and like an old pair of sneakers, carries a PEU odor.