The Carlyle Group has hired Michael Arpey as a managing director and member of the firm’s operating committee, a new position. He is based in Washington DC.
Arpey joins Carlyle from Credit Suisse, where he was a managing director and co-head of the Customised Fund Investment Group (CFIG), the private equity fund of funds business within the Alternative Investments group. Arpey co-founded the group in 1999.
At Carlyle, Arpey will coordinate the firm’s investor relations team, oversee new fund formation and the development of new products for investors. A spokesperson for the firm said Carlyle is planning on creating additional investment products it does not currently offer, but could not provide any details regarding the new products.
Prior to joining Credit Suisse in 2000, Arpey was head of private equity investment for Prudential Insurance Company of America, managing $3 billion of private equity holdings from teams in Asia, Latin America, Central Europe and the US. He was previously director of alternative investments for The New York State Common Retirement Fund and a trustee for the Pennsylvania Public School Employees' Retirement System.
Carlyle co-founder David Rubenstein said in a statement that Arpey’s experience as both a limited partner and general partner would bring “insight and understanding” to the firm’s senior management team.
Several large firms have been building up their IR teams to compete in the stagnant fundraising environment. KKR has expanded its IR team to about 30 people, compared to less than 10 three years ago. Over the summer, Highland Capital Management and TA Associates each hired investor relations professionals to fill the newly created roles of managing director and vice president of investor relations, respectively.