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At Barron's

Carlyle's Top Execs Discuss Higher Rates, Trump, and Buffett Wannabes

At Barron's

At Barron's

Business

4.717 Ratings

🗓️ 23 January 2025

⏱️ 28 minutes

🧾️ Download transcript

Summary

Carlyle co-founder David Rubenstein, and the firm's CEO, Harvey Schwartz, spoke with Barron's editor-at-large Andy Serwer. This interview was recorded on Jan. 22, 2025, at the World Economic Forum meeting in Davos, Switzerland.

Transcript

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0:00.0

Hello everyone and welcome to App Barrens. I'm Andy Surwer and welcome to our guests, Harvey Schwartz and David Rubenstein of Carlisle, which is of course a big global alternative asset management firm.

0:16.0

And Harvey, you're the CEO. I want to start out with you. You came to become the CEO about

0:22.0

23 months ago. Almost a two-year anniversary. Almost two years. And there was some management

0:27.5

turmoil. You stabilized that, I'm sure. What is the strategy going forward at this point?

0:32.8

The strategy is pretty straightforward. You know, when David called me to join the firm, obviously I knew Carlisle.

0:39.3

It's an iconic firm.

0:41.3

It's had a very unique place in financial history.

0:44.3

Private capital today, as you all know, is growing dramatically.

0:49.3

We've been growing dramatically.

0:51.3

We've had record assets up 17% last year record financial performance record

0:58.0

inflows but more importantly what is the strategy the strategy is making sure

1:02.6

that we deliver excellent performance across the 450 billion global

1:08.6

platform whether that's in credit insurance, which is our largest category,

1:12.6

traditional private equity, which David's one of the founders literally of the asset class solution,

1:18.6

or in our secondaries business. And of course, this marketplace is incredibly dynamic right now,

1:25.6

whether it's in private capital in the form of lending,

1:29.9

whether it's the wealth channel, which is literally exploding around the world and in very

1:33.6

early stages. So, you know, our strategy is global domination. There you have it. But I mean,

1:42.5

that was part of what when David met me. He said, look, you can have the job, but global domination is what I want.

1:47.0

I said, okay, it sounds good.

1:48.0

David, you like an ambitious CEO like that?

1:50.0

I mean, when not holding back?

...

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