Hints and tips:
...Carlyle struggled to raise new investor cash in the six months after the surprise departure of former chief Kewsong Lee in August....
...In early 2022, it committed to a “net zero” goal under former chief Kewsong Lee, but did not dispose of billions of dollars in fossil energy investments....
...After Lee’s departure, Carlyle raised less than $1bn, according to filings....
...The gag was meant to signal to the former employees gathered that Schwartz had built a good relationship with Carlyle’s founders, unlike his predecessor, Kewsong Lee....
...Whitney Fogelberg has joined C Street Advisory, a communications and strategic advisory group that specialises in distressed company and debtor representations....
...The trio named two dealmakers, Glenn Youngkin and Kewsong Lee, as co-heads in 2017, but Youngkin departed three years later amid conflict with Lee....
...to buy majority stake in fund administrator Alter Domus (FT) CVC-owned beauty retailer Douglas plans Frankfurt listing (FT) Santander shareholders urged to vote against Botín pay package (FT) Addison Lee...
...Alison Mass and George Lee have left the group but will remain at the bank in their other roles, The Wall Street Journal reports....
...Fast forward to 2023 and it’s a far different story, DD’s Antoine Gara reports, as its fundraising struggles and a failed succession plan has caused it to fall behind rivals such as Blackstone and KKR....
...That peaked when Hong Kong’s chief executive John Lee and Yasir al-Rumayyan, governor of Saudi Arabia’s $700bn Public Investment Fund, struck a celebratory gong....
...Investors committed just $300mn to its new flagship US buyout fund in the period, putting the total raised at about $16bn and short of the $22bn target set by Schwartz’s predecessor, Kewsong Lee....
...Art, the Whitney Museum of American Art and the Museum of Jewish Heritage....
...Meanwhile, Tiger said Connie Lee, a partner at the firm who joined five years ago, had left the fund....
...Blackstone and Bumble founder Whitney Wolfe Herd sold shares at $22.80 each, compared with $43 per share at its IPO in early 2021....
...But Blackstone isn’t as keen to sell down assets just yet in still-fragile financial markets that are battling high interest rates and geopolitical tumult, reports DD’s Antoine Gara....
...Additional reporting by Antoine Gara in New York...
...He will also have to prevent the firm from bleeding talent, particularly dealmakers close to Lee and Peter Clare, another recently departed executive....
...She is bringing works by more than 30 contemporary South Korean artists to London, including Na Ri Choi, Ha Jin Lee and Sung Hee Kim. “The artists do not pay to participate....
...In recent quarters, Carlyle has struggled to raise cash for those funds as investors pulled back from making commitments after the surprise exit of former head Kewsong Lee in August sparked a six-month search...
...His appointment came after a six month search for a new leader following the surprise exit of Kewsong Lee in August....
...Earlier this month, Carlyle hired former Goldman Sachs executive Harvey Schwartz to be its new head, ending a six-month period of uncertainty after former chief Kewsong Lee resigned after falling out with...
Pressure mounts on Marc Benioff’s software group after Starboard Value fund calls to boost profit margins
...The long search for Lee’s replacement took several twists and turns....
...Carlyle shares were down 2.5 per cent in early Monday trading, slightly below the level they traded at before Lee’s departure....
...His appointment ended a six-month period of uncertainty after former chief Kewsong Lee resigned following a falling out with co-founders David Rubenstein, William Conway and Daniel D’Aniello....
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