Photograph by Jonathan Ernst — Reuters
By Dan Primack
May 20, 2016

The Carlyle Group on Friday announced a senior management shakeup that will include the departure of Mitch Petrick, the firm’s head of global market strategies. He plans to become a senior advisor to the firm, while moving on to form his own investment management company.

Petrick originally joined Carlyle (CG) in 2010 after a 20-year career with Morgan Stanley (MS), and oversaw a business that includes Carlyle’s leveraged finance, distressed debt and mezzanine financing teams.

He will be succeeded by Kewsong Lee, who also will maintain his role as deputy chief investment officer for global private equity.

The Carlyle Group also announced that energy and natural resources investing chief Kenneth Hersh will move into a deputy chief investment officer in the business, following his recent appointment as president and CEO of the George W. Bush Presidential Center. Glenn Youngkin, Carlyle’s president and COO, now will also oversee the energy and natural resources group.

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