Carlyle Taps Ex-KKR Capital Markets Vet Farr For Advisory Role

Jan 30 2017 | 6:37pm ET

Former KKR global head of capital markets Craig Farr has joined Carlyle Group as a senior advisor to its credit unit.

Farr began his new role effective January 25, Carlyle said in a statement. He will assist in the development of new initiatives for Carlyle’s credit business, which invests in a wide range of strategies, including private debt, leveraged loans, structured finance, direct lending and distressed debt. He will continue devoting time to various roles outside of Carlyle, the statement added. 

Farr spent nine years at KKR and was instrumental in the development of its capital markets business, according to Bloomberg. He left in 2015. Beforehand, he was co-head of Citigroup’s North American equity capital markets and head of U.S. convertible and corporate equity derivative origination before taking the reins of KKR Credit Advisors in 2013. He began his career as an investment banker at Salomon Brothers. 

“We are excited to work with Craig, a deeply experienced business leader and credit investor, as we continue to build our business in this dynamic space,” said Mark Jenkins, Carlyle managing director and head of global credit, in tbe statement. “Craig’s wisdom and perspective will be helpful as we enhance our strong existing businesses and consider new opportunities to create value for our investors.”

Jenkins came aboard Carlyle last fall from the Canada Pension Plan Investment Board with a mandate to expand the company’s credit business following its exit from three alternative asset managers last year.

Carlyle’s global credit platform resides within the company’s $34 billion global market strategies segment. Founded in 1987, the firm as a whole managed more than $169 billion across 125 funds and 177 fund of funds vehicles engaged primarily in private equity, real estate and credit strategies as of September 30, 2016.

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