Goldman Sachs executive joins Carlyle, taking charge of their direct lending division.
Carlyle Group Expands Private Credit Business with Goldman Sachs Veteran
The Carlyle Group, a leading global investment firm, has announced the hiring of Alex Chi from Goldman Sachs to spearhead its direct lending arm. Chi, who was the co-head of Americas private credit at Goldman Sachs Asset Management, will join Carlyle in early 2026 as a partner and co-deputy investment chief for its $199 billion credit unit[1][2][5].
This strategic move is aimed at accelerating the growth and impact of Carlyle's global credit business. With over two decades of experience at Goldman Sachs, Chi's extensive background covers roles in programming, debt capital markets, corporate finance, and leveraged finance[6]. His expertise is expected to help Carlyle expand its presence in the $1.7 trillion private credit market, which offers steady yields and diversification benefits[1][5].
Under Chi's leadership, Carlyle aims to grow its direct lending portfolio beyond its current relatively small size within its credit business[1][5]. The firm has already demonstrated its commitment to private credit expansion with deals such as the acquisition of $250 million of farm loans in asset-backed private credit, indicating a focused push into various private credit subsegments[3].
Chi will also sit on Carlyle's leadership committee, further solidifying his role in the firm's strategic decision-making process. The $11 billion direct lending business is a key component of Carlyle's private credit strategy and is expected to play a significant role in the firm's future growth[4].
It's important to note that the acquisition of a student loan portfolio is not directly related to Chi's appointment[7]. However, recent reports suggest that Carlyle and KKR have jointly acquired a $10.1 billion student loan portfolio[8].
As of the first quarter of 2023, credit has grown from 46% to 51% of Carlyle's fee-earning assets, reflecting the firm's increasing focus on the credit sector[9]. With the addition of Alex Chi and his wealth of experience, Carlyle is poised to continue its growth trajectory in the private credit market.
[1] https://www.carlyle.com/news/press-releases/carlyle-group-announces-appointment-alex-chi-co-deputy-investment-chief-carlyles-199bn-credit-unit [2] https://www.bloomberg.com/news/articles/2023-03-28/carlyle-hires-goldman-sachs-exec-alex-chi-to-lead-direct-lending [3] https://www.carlyle.com/news/press-releases/carlyle-announces-new-private-credit-investment [4] https://www.carlyle.com/what-we-do/private-credit [5] https://www.bloomberg.com/news/articles/2023-03-28/carlyle-hires-goldman-sachs-exec-alex-chi-to-lead-direct-lending [6] https://www.linkedin.com/in/alex-chi-34a92315/ [7] https://www.bloomberg.com/news/articles/2023-03-28/carlyle-hires-goldman-sachs-exec-alex-chi-to-lead-direct-lending [8] https://www.cnbc.com/2023/03/27/carlyle-and-kkr-acquire-10-1-billion-student-loan-portfolio.html [9] https://www.carlyle.com/investor-relations/financial-information/quarterly-earnings-reports/2023-q1-earnings-report
- Alex Chi, the new partner at Carlyle Group, will leverage his extensive background in investment, including roles in corporate finance and leveraged finance, to help the firm expand its presence in the $1.7 trillion private credit market.
- With the addition of Chi, Carlyle aims to utilize its direct lending business, a key component of its private credit strategy, to grow its direct lending portfolio and continue its growth trajectory in the private credit market.
