Kewsong Lee, co-chief executive officer of the Carlyle Group, has been appointed as the US private equity group’s chief executive officer after co-CEO Glenn Youngkin decided to retire at the end of September after a 25-year tenure, the company said on July 21.
Lee, a Korean American, has been serving as co-CEO with Youngkin since 2018.
He joined Carlyle in 2013 as deputy chief investment officer for corporate private equity and worked as head of the global credit segment. Previously, he had worked at Warburg Pincus for 21 years.
“The Board is confident that Kew will build on the current momentum that has been achieved and we are excited to watch him lead and support the exceptional global team Carlyle has assembled,” Carlyle Co-Founder and Co-Executive Chairman David Rubenstein said in a statement.
With $217 billion of assets under management, Carlyle deploys capital across four business segments: corporate private equity, real assets, global credit and investment solutions.