Investing.com -- The Carlyle Group (NASDAQ:CG), a leading global alternative asset manager, announced a bevy of senior personnel moves on Thursday, including the promotion of Sandra Horbach to co-head of the company's U.S. buyout funds.
Horbach succeeds Allan Holt who will become chairman of the Investment Committee for the division. With the promotion Horbach will join existing co-head Peter Clare to lead Carlyle's buyout segment. Horbach, who previously served as the head of the company's Consumer & Retail team, helped launch the division when she joined the firm in 2005. Horbach is currently a director on numerous Boards throughout the U.S. including: Acosta, Dunkin' Brands, NBTY and CVC. She also serves as chair at Stanford University's Graduate School of Business Advisory Council and is a trustee at Rockefeller University. Carlyle also announced on Thursday that Jay Sammons will succeed Horbach as head of the consumer team.
"Carlyle’s greatest strength is the incredible breadth and depth of our global team. For 24 years, Allan Holt has played an enormous role in the success of our flagship buyout operation," said William Conway, Co-CEO The Carlyle Group. "As Chairman of US Buyout, we will have the ongoing benefit of his experience as we continue to invest wisely and create value for our LPs."
Holt has spent 14 years as Carlyle's head of its US Buyout division. Previously, Holt spent time leading several units at the company, including Global Aerospace, Defense, Technology and Business/Government Services. Before coming to Carlyle in 1992, Holt served as Director of Planning and Budgets at MCI Communications.
"I am confident that Pete and Sandra – who are seasoned investors and strong leaders – will maintain and strengthen US Buyout’s exceptional track record of success and innovation," Holt said in a statement. "I look forward to continuing to work with them."
The Carlyle Group is a global alternative asset manager with $176 billion of assets under management, as of June 30. The group employs more than 1,650 people across six continents.