Sunday, November 20, 2022

Energy Co-Head Bails on Carlyle

Pensions and Investments

Avik Dey, who joined Carlyle Group this summer to co-head its energy business, is leaving the firm at the end of November, according to people with knowledge of the matter.

Days before the PI story Carlyle announced Telis Energy, a European alternative energy platform.  Reuters reported

Carlyle seeks $1.6 bln for second renewable energy fund

Neither Dey nor Carlyle International Energy are mentioned in the stories.

Avik Dey had a five month tenure at Carlyle.  That's seven months shorter than Mike Cavanaugh, who'd been tapped to replace Carlyle's founding triumvirate. 

Executive turnover continues at the politically connected private equity underwriter (PEU).  The search to replace CEO Kewsong Lee continues.  The founders remain firmly in charge.