Carlyle bolsters RE group in advance of IPO

The Washington, DC-based alternative asset manager has appointed 11 real estate professionals in North America and Europe to senior roles.

The Carlyle Group has promoted 11 professionals on its real estate team to senior positions, including three to managing director and eight to principal/director. The real estate promotions are part of a larger slate of 41 promotions announced earlier this week by the Washington, DC-based private equity firm.

“The promotions reflect the fact these are employees that have grown with us and that, as a result of that growth, are contributing in a more significant manner to the performance of our funds,” said a company spokesman. In addition to real estate, which represented the greatest number of promotions, the firm acknowledged 10 employees of its buyout business, as well as others in growth capital, global markets, real assets and investor services.

The real estate promotions increase the senior ranks of Carlyle’s real estate teams in North America, Europe and Asia, noted the spokesman. While the promotions were not newly created positions, “they reflect the fact that our portfolio is growing and the teams are responding in parallel.”

The new managing directors for real estate will have similar responsibilities to their previous roles as principals or directors. They include Thaddeus Paul, who is based in Carlyle’s Washington DC office and will continue to focus on identifying apartment investments in Florida and Atlanta, as well as hotel and senior housing investments nationwide. He joined the company in 2000 from LaSalle Hotel Properties.

Valeria Falcone, who works out of the firm’s Milan office, will continue to target real estate investments in Italy, including those in current portfolio companies Venus and Trieste. She has been with the firm since 2004. Meanwhile, Mark Harris, based in London, will remain focused on asset management of real estate properties in the UK.

The eight promotions to principal/director included four on Carlyle’s European real estate team and four in US real estate. Principal is the title used in North America, and director is the equivalent title in Europe and Asia.

Carlyle, which is gearing up for an initial public offering, currently has 80 real estate professionals in the US, approximately 50 in Europe and about 20 in Asia. Late last year, the private equity firm closed on its sixth US real estate fund, Carlyle Realty Partners VI, raising $2.34 in equity commitments.