Carlyle hires RE debt exec to lead credit arm

The asset manager’s credit businesses had $29bn in assets as of the first quarter of 2017.

Carlyle Group has tapped Alex Popov, a former HPS Investment Partners managing director, to lead its credit opportunities platform, PERE sister publication Private Debt Investor on Monday.

Popov will be based in New York in his new post.

Before HPS, where he worked in the firm’s real estate credit platform from 2008 to 2016, Popov held positions at Oaktree Capital Management, American Capital Strategies, and the investment bank Donaldson, Lufkin & Jenrette, according to a statement.

The hire comes as the firm continues to expand its private credit footprint.

“The opportunistic credit space is a critical part of the buildout of our global credit platform,” Mark Jenkins, managing director and head of global credit at the firm, said in the statement.

Carlyle declined to comment further.

The firm plans to add $100 billion in assets under management by 2019, with private debt an integral part of meeting that benchmark, executives said in February. This spring the firm also added Ben Schryber, former global credit head at First Avenue Partners, to manage credit sales and business development.

Carlyle’s real assets platform – which covers real estate, infrastructure, energy and natural resources – currently manages a total of $36 billion of assets, according to its website. Of that amount, the firm’s real estate funds had $13 billion of assets under management as of March 31.

Meanwhile, Carlyle’s global credit businesses had $29 billion in assets as of the same date, the hire statement read. The firm’s private debt strategies include distressed credit, mezzanine loans and energy-focused funds, as well as its CLO business and business development companies, one of which went public this month.

The alternative asset manager had $162 billion of assets under management across 287 investment vehicles at the end of first quarter.