The Carlyle Group's Peter Clare announced his retirement effective April 30th. The 57 year old Clare recently was mentioned as a possible CEO candidate for the politically connected private equity underwriter (PEU).
Carlyle hired "streetfighter" Harvey Schwartz for the CEO position. Schwartz has been in that role for twelve days.
Clare will stop serving as an executive officer and will step down from the board effective immediately.
How did Schwartz get Clare to tap out so quickly?
Mr. Clare formerly was the Chief Investment Officer of Corporate Private Equity, Chairman of the Americas and Chair of the US Buyout and Growth Investment committees. Mr. Clare also previously served as the Co-Head of the US Buyout and Growth team and as Deputy Chief Investment Officer of the Company’s CPE segment and previously was a member of Carlyle’s Board of Directors from January 2018-February 2023.It's still February. Who's next on the list?
Power disruption and consolidation...it's the PEU way.
Update: FT's piece on Clare's retirement echoes some of the same themes:
On a call the firm hosted a day after Schwartz’s hiring, Clare ... assured investors in Carlyle funds that they would support the new CEO.
