Carlyle Group CFO John Redett has expressed confidence in the firm’s fundraising prospects as he prepares to step into a dual role as co-president and head of its private equity platform, according to a report by Bloomberg.
Speaking at the Goldman Sachs Financial Services Conference, Redett said performance remains a core focus and that he expects fundraising to be a major priority as Carlyle gears up to launch its ninth flagship private equity fund.
Redett acknowledged that Carlyle Partners VII had delivered uneven results, telling Bloomberg it was “not our best work of art”, though he stressed that the fund is not expected to lose capital. He added that the outlook for the eighth fund in the series was more positive, setting a stronger foundation for a smoother raise for Carlyle Partners IX, which is expected to target a similar size to VIII.
Redett also pointed to fee expansion as a near-term driver for the group, telling Bloomberg “We are very optimistic that over the next couple of years you will see a significant step-up in our management fees.” He added that management fee growth should accelerate next year as several large products come to market.
