Carlyle co-CEO Glenn Youngkin to retire

"It has been the professional journey of a lifetime and my honor to be part of building Carlyle into the global institution it is today, and to serve the last few years as co-CEO alongside an enormously talented partner like Kew," Youngkin, who joined Carlyle in 1995, said in a statement.

"As the world continues to face so many challenges today, and as Carlyle is well-positioned, now is a natural point to focus my full-time efforts on community and public service efforts that I believe can make a meaningful impact."

Lee and Youngkin became co-CEOs in 2017 as Carlyle's three co-founders, William Conway, Daniel D'Aniello and David Rubenstein, scaled back their involvement. Under this structure, Lee was responsible for corporate private equity, global credit, corporate strategy and development, and capital markets. Youngkin led the firm's real estate, energy, and infrastructure operations, as well as investor relations and external affairs.

Prior to becoming President in 2014, Youngkin has filled a number of roles at Carlyle, including COO, interim CFO, global head of industrials, and head of UK buyouts. He is credited with leading the build-out of the firm's energy business through a partnership with  Natural Gas Partners and the creation of various global infrastructure strategies.

Youngkin also led a 2011 investment in AlpInvest and helped develop Carlyle's investment solutions business, which focuses on global private equity and real estate. Prior to joining Carlyle, he worked for McKinsey & Company and CS First Boston.

Lee joined Carlyle in 2013 following a 21-year career at Warburg Pincus. He has helped drive investment, fundraising and management activities for the corporate PE and global market strategy businesses.

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