Alternative asset manager The Carlyle Group has appointed Rodney Cohen as a managing director and head of the new US equity opportunity team.
The group will draw upon Carlyle’s geographic, product and sector resources to make control, joint-control and structured minority investments of up to USD150m across a range of industries and opportunities, including, smaller buyouts, corporate divestitures, corporate partnerships and platform build-ups.
Cohen comes to Carlyle from Pegasus Capital Advisors, a middle-market investment firm with approximately USD2bn of assets under management, where he was a co-managing partner.
Reporting to Carlyle chief investment officer William E. Conway, Jr., Cohen is based in New York.
Carlyle managing firector Brooke Coburn, head of the US growth capital team, will maintain his current position overseeing three funds with USD1.4bn in committed capital and take on expanded duties as deputy head of the new equity opportunity team. Coburn, a Carlyle veteran since 1996, has led and worked on more than 20 buyout and growth equity investments.
Conway says: “Rodney is a great addition to our global investment team. His joining will enable us to make investments in companies and situations that we have not focused on in recent years. Combining his opportunistic investment approach with Brooke’s small buyout experience and Carlyle’s global network gives us the rare ability to bring exposure and relationships to small cap companies looking to expand in international markets.”
Cohen adds: “I am excited about this chance to work with Carlyle – to combine an opportunistic investment approach with a return to Carlyle’s small buyout history. The diverse Carlyle platform will generate investment opportunities and magnify our efforts as we seek, diligence and execute transactions that the firm until now would not have pursued because they were too small or unusual. The past 14 years at Pegasus have been deeply satisfying and I sincerely appreciate the time I spent with my friend and mentor Craig Cogut and his outstanding management team.”