The Carlyle Group is losing yet another top executive. Chief Financial Officer Curtis Buser is retiring and will be replaced by John Redett, Chief of Carlyle's Global Financial Services Division. Redett will become CFO and Chief of Corporate Strategy on October 1st.
Buser is 59 while Redett is 55. The move takes place as Carlyle wants to lend more to finance deals. CEO Harvey Schwartz cited financing Carlyle's private equity buyouts as a way to reduce fees and add to profitability.
With banks less interested in funding buyouts the greed and leverage boys see opportunity. It's also a way to reduce the numbers and size of sphincter moments as affiliate debt comes due and needs refinancing.
Ironically Carlyle's co-founders got cross-ways with former CEO Kewsong Lee who pushed Carlyle to offer more corporate financing. Lee left suddenly last fall. Peter Clare left after not getting the top job. Buser is the latest 2022 top executive to leave the firm.
