Harvey Schwartz is done doing things the old way at Carlyle. The CEO of one of the world’s most powerful private equity firms has locked in his inner circle, naming three trusted veterans as co-presidents in a move that reshapes how the $475 billion giant will operate going forward. This is not a routine reshuffle. It is a direct signal of where Carlyle is headed and who will take it there.

Who Are the Three New Co-Presidents

The names are familiar inside Carlyle’s walls, but this moment officially puts them at the top.

John Redett, Mark Jenkins, and Jeff Nedelman are now co-presidents of Carlyle, stepping into newly created roles effective January 1, 2026. Each brings a distinct strength. Each owns a critical piece of the firm’s future.

Redett, formerly the Chief Financial Officer and Head of Corporate Strategy, takes charge of Global Private Equity, overseeing both Corporate Private Equity and Real Assets. He is a 25-year industry veteran who joined Carlyle in 2007 and has driven major investments including Duff and Phelps, TCW, and BankUnited.

Jenkins, who has led the Global Credit business since joining Carlyle in 2016, will now head Global Credit and Insurance. Before Carlyle, he was a Senior Managing Director at CPPIB, where he founded the credit investment platform and led the acquisition of Antares Capital. His credit instincts are sharp and battle-tested.

Nedelman rounds out the trio as the face of the firm’s client relationships. As Global Head of Client Business, he leads the global investor relations team and oversees distribution across all three business segments. He joined Carlyle in 2023 after serving as a Partner and Senior Managing Director at Certares.

Why Schwartz Made This Move Now

Schwartz did not make this decision in a vacuum. He has been quietly rebuilding Carlyle since taking the CEO role on February 15, 2023, following a six-month leadership search by the board.

The firm has undergone what Schwartz himself called a multi-year transformation, realigning compensation, rethinking leadership, and expanding well beyond its private equity roots. The co-president appointments are the clearest sign yet that the rebuild is complete and the growth phase has started.

“These individuals, all Carlyle veterans, are proven leaders whose deep expertise and extensive experience will drive our next phase of growth.” – Harvey Schwartz, CEO, Carlyle

By assigning each co-president a defined business line, Schwartz removes ambiguity. Redett owns buyouts and real assets. Jenkins owns credit. Nedelman owns the client relationship engine. There is no overlap, no turf war. Just accountability.

TD Cowen analysts noted that the move should accelerate growth across segments while freeing up Schwartz to focus on key areas like solutions and wealth management businesses. That is a significant strategic advantage in a market where speed matters.

The Numbers Behind the Power Shift

This leadership restructuring is backed by real financial momentum, not just organizational theory.

As of March 31, 2026, Carlyle manages $475 billion in assets under management across its three business segments. The firm posted a strong first quarter, with fee-related earnings of $300 million at a 47% margin and distributable earnings of $327 million, or $0.89 per share.

• Carlyle AlpInvest: Total AUM hit a record $107 billion, up 20% year-over-year, with record inflows of $6.8 billion
• Global Credit: Total AUM of $209 billion, up 5% from a year ago, with $3.9 billion in inflows in Q1 alone
• Global Private Equity: FRE of $140 million with record U.S. buyout realizations
• Evergreen Wealth AUM: Now stands at $19 billion, four times the level from just three years ago

Schwartz also revealed a “first-of-its-kind” investment solution anchored by a $5 billion commitment for Carlyle’s next vintage U.S. buyout fund. The firm’s three-year targets, set at the February 2026 Shareholder Update, are equally ambitious: fee-related earnings of $1.9 billion or more, inflows of $200 billion or more, and distributable earnings per share of $6.00 or more by end of 2028.

The Bigger Shakeup Beyond the Three Names

The co-president appointments were not the only leadership changes Carlyle announced in this restructuring cycle.

Justin Plouffe, who served as Deputy Chief Investment Officer for Global Credit since 2007, stepped into the CFO role vacated by Redett. Plouffe holds a JD from Columbia Law and is a CFA charterholder, bringing deep financial and investment expertise to the role.

Michael Wand, Head of Europe Private Equity since 2001, became Head of EMEA Investments, taking responsibility for all investment activity across Europe, the Middle East, and Africa. His track record includes technology investments in P&I AG, Foundry, and DEPT.

Admiral James Stavridis, the former Supreme Allied Commander at NATO and Carlyle’s Vice Chair of Global Affairs, was promoted to Vice Chairman. His role at the intersection of geopolitics and investment strategy becomes even more important as global risks reshape capital markets.

What This Means for Investors, Clients, and the Industry

Private equity is going through a stress test right now. Higher borrowing costs, slower deal exits, and longer fundraising cycles have forced every major firm to rethink how they operate. Carlyle’s structural answer is a leaner, faster command structure at the top.

For limited partners and institutional clients, three co-presidents with defined mandates means clearer lines of communication and sharper accountability on performance. There is no longer ambiguity about who owns what result.

The broader industry is watching. Rivals like Blackstone, KKR, and Apollo have all made moves to fortify their senior leadership in recent years. Carlyle’s decision mirrors that trend, but the firm’s approach is notably focused on internal promotion. Redett, Jenkins, and Nedelman are all Carlyle veterans, not outside hires. That tells clients and employees something important: the talent was already there.

Carlyle also employs more than 2,500 people across 28 offices on four continents. For those employees, a clearer leadership structure typically means faster decisions, better defined career paths, and a more consistent firm-wide strategy.

Carlyle’s three-president model is a calculated bet by Harvey Schwartz that coordinated leadership across buyouts, credit, and client services is the fastest path to its 2028 goals. With $475 billion in AUM, record inflows in key segments, and a fresh board-approved $2 billion share repurchase program in hand, the firm is not just reorganizing for the sake of it. It is organizing to win. Whether this structure holds and delivers on its promise will be one of the most closely watched stories in private equity over the next two years. What is your take on Carlyle’s bold leadership overhaul? Drop your thoughts in the comments below.