Carlyle Group Inc is establishing a new investment platform focused on the aerospace, defence and industrials middle market, as the firm positions itself to benefit from sustained increases in US and European defence budgets, according to a report by Bloomberg.
The Washington-based alternative asset manager said the initiative will target opportunities across both the United States and Europe, with leadership drawn from within its existing industrials and defense investment teams. Aaron Hurwitz, who heads Carlyle’s defense investment activities, and Wes Bieligk, a partner in the industrials group, will oversee the platform.
Ian Fujiyama, Carlyle’s global head of aerospace, defence and government, will serve as chairman of the new strategy.
As part of the build-out, the firm is bringing in retired US Special Operations Command leader Bryan Fenton as an operating executive. He will support deal origination, investment evaluation and engagement with portfolio companies and industry stakeholders.
In a statement, Fujiyama described the move as a natural extension of Carlyle’s broader investment franchise, aimed at dedicating capital and operational expertise to the mid-market segment in both regions.
The strategy comes as private equity groups increasingly look to capitalise on structural growth in defence spending, with governments across NATO committing significant resources to modernisation, supply chain resilience and industrial capacity expansion.
Carlyle Group Inc. has deep historical ties to the defence sector. In its early years, the firm brought former US Defense Secretary Frank Carlucci into its leadership, helping shape a period of deal activity during post–Cold War Pentagon spending cuts. The firm has since invested in companies including Booz Allen Hamilton, StandardAero Inc and Two Six Technologies.
Carlyle has also been marketing a dedicated defense-focused fund to investors, according to prior reports, reflecting broader industry momentum behind the sector.
In parallel, US Army Secretary Dan Driscoll has been engaging with private capital groups on potential public-private partnerships spanning energy, manufacturing, supply chains and critical materials, with an emphasis on large-scale infrastructure investment.
The Army has reportedly explored initiatives worth around $150bn, including collaboration with private investors on modernisation programmes. Carlyle has separately been granted exclusivity to negotiate a potential project involving the construction of a data centre at Fort Bliss in El Paso, Texas, underscoring its growing involvement in defence-adjacent infrastructure opportunities.
