Carlyle’s Sandra Horbach Taking Chair Role at Key Buyout Arm

Sandra Horbach, one of Wall Street’s most prominent women, is ceding day-to-day leadership atop a major Carlyle Group Inc. private equity arm.

Bloomberg
Published12 Jun 2024, 11:32 PM IST
Carlyle’s Sandra Horbach Taking Chair Role at Key Buyout Arm
Carlyle’s Sandra Horbach Taking Chair Role at Key Buyout Arm

(Bloomberg) -- Sandra Horbach, one of Wall Street’s most prominent women, is ceding day-to-day leadership atop a major Carlyle Group Inc. private equity arm. 

She’ll step away as co-head of Americas corporate private equity and become chair of that arm instead, the firm said Wednesday in a statement. The alternative investing giant is elevating Stephen Wise, the firm’s head of health care, to become co-head of the business alongside Carlyle veteran Brian Bernasek.  

Horbach had been considering shifting out of the co-head role for some time, and decided it was the right moment with the firm’s latest corporate private equity fund now more than half invested. The group oversees Carlyle’s biggest flagship funds.  

Horbach will continue to sit on all investment committees she’s already on and will still focus most of her time at the corporate private equity team. As chair, she’ll work on initiatives such as expanding Carlyle’s retail presence.  

The firm has faced the challenge of persuading investors that it’s maintaining stability at the corporate private equity business while changing its leadership slate. 

The group has had high-profile executive changes and weak returns at one critical fund. Pete Clare, the former chief investment officer of corporate private equity, left last year shortly after Chief Executive Officer Harvey Schwartz took charge. 

Horbach is known as a dealmaker who commanded the investment committee. She drove iconic deals such as Dunkin’ Brands and Beats Electronics and launched a team to support the operations of the corporate private equity group’s portfolio companies.  

She joined Carlyle in 2005, built its consumer and retail team and ascended its ranks to become one of private equity’s highest-ranking female dealmakers. 

Horbach made tough calls along the way. Recently, she played a role in deciding to dismantle its US consumer, media and retail dealmaking team, telling staff the pivot was necessary to improve performance.  

A key buyout fund, invested through the start of the pandemic, has delivered bottom-quartile returns as of September. The firm has improved its returns, according to a person familiar with the matter. 

With Wise becoming co-head of Americas corporate private equity, Carlyle is elevating senior partners Joe Bress and Robert Schmidt as heath care co-heads. 

(Updates with additional context starting in third paragraph)

More stories like this are available on bloomberg.com

©2024 Bloomberg L.P.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:12 Jun 2024, 11:32 PM IST
HomeNewsCarlyle’s Sandra Horbach Taking Chair Role at Key Buyout Arm

Most Active Stocks

Bharat Electronics

313.50
03:59 PM | 18 JUL 2024
-12.85 (-3.94%)

Oil & Natural Gas Corporation

331.20
03:59 PM | 18 JUL 2024
8.8 (2.73%)

Zee Entertainment Enterprises

142.45
03:59 PM | 18 JUL 2024
-13 (-8.36%)

Tata Steel

166.35
03:56 PM | 18 JUL 2024
-0.7 (-0.42%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

India Cements

344.75
03:54 PM | 18 JUL 2024
21.7 (6.72%)

IDBI Bank

92.19
03:59 PM | 18 JUL 2024
4.27 (4.86%)

Endurance Technologies

2,679.00
03:29 PM | 18 JUL 2024
102.4 (3.97%)

Gillette India

8,002.75
03:29 PM | 18 JUL 2024
275 (3.56%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,099.00-147.00
    Chennai
    74,659.00-440.00
    Delhi
    74,512.00-294.00
    Kolkata
    75,539.0073.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanBudget