Oct 2 (Reuters) – Private fairness agency Carlyle Group (CG.O) plans to drag again from investing in U.S.-based shopper, media and retail corporations because it appears to be like to deal with different key sectors similar to expertise and monetary companies, based on an individual acquainted with the matter.
In a memo despatched to staff, Carlyle’s Americas non-public fairness co-heads Sandra Horbach and Brian Bernasek mentioned it had “determined to deemphasize Consumer, Media & Retail within the US as a go ahead funding sector given the more and more difficult funding tendencies on this area.”
“While these choices are by no means simple, that is essential to place our platform and crew for the long run,” Horbach and Bernasek mentioned.
Four dealmakers targeted on the buyer, media and retail sectors will exit the agency as a part of the latest strikes, the supply mentioned. Carlyle plans to proceed investing in these sectors in different geographies similar to Europe and Asia, the supply added.
In North America, Carlyle’s energetic investments within the shopper sector embody magnificence model Beautycounter, animal care and vitamin agency Compana Pet Brands, and males’s private care model Every Man Jack.
Carlyle’s non-public fairness business will now focus its U.S. technique round 5 key sectors – healthcare, expertise, industrials, monetary companies, and authorities companies.
To develop its efforts in monetary companies, Carlyle has tasked Will McMullan to co-head the unit alongside Jim Burr. Carlyle additionally named Anna Tye as its co-head for expertise investments, alongside Patrick McCarter. Tye will retain her present position as co-head of progress investments.
Bloomberg News reported on Carlyle’s latest plans earlier on Monday.
Additional reporting by Niket Nishant in Bengaluru; Editing by Shilpi Majumdar and Rosalba O’Brien
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