Debra Pedersen, former managing director at Plainfield Asset Management, will take over investor relations and fundraising for Carlyle’s global leveraged finance division.
The 39-person team's high yield, mezzanine and special situations funds mostly invest in below investment-grade synthetic corporate loans and bonds. Under chief investment officer Mike Ramsay, the team manages $13 billion in assets and was recently regrouped into a global platform following dissolution of its Asian leveraged finance group amid the financial downturn.
Last year, the division launched Carlyle High Yield Partners 2008, a $500 million US loan fund investing in below investment-grade debt. The firm also collected $553 million in March for its second mezzanine fund, Carlyle Mezzanine Partners II.
The Washington, DC-based global private equity firm manages $84.5 billion in total assets, with investments across sectors and continents in buyouts, growth capital, real estate and leveraged finance.
Carlyle is known for having a robust in-house fundraising team, but earlier this year was penalised for its alleged role in a kick-back scandal involving finders and the New York State Common Retirement Fund. New York Attorney General Andrew Cuomo arranged a settlement with the the firm, which saw Carlyle pay $20 million to “resolve its role” as well as agree to a code of conduct preventing it from using placement agents or other third parties in the US.