The Carlyle Group has nabbed former Morgan Stanley sales and trading chief Michael “Mitch” Petrick as its first global head of credit alternatives and capital markets, the private-equity firm said today.
Petrick, who's been named managing director and will join Carlyle’s operating committee, will lead the firm’s leveraged finance, mezzanine and distressed teams. He will oversee a total of 57 investment professionals and funds with $19 billion in assets. He was most recently managing director and global head of institutional sales and trading with Morgan Stanley, where he worked for 20 years.
Petrick recently resigned from the investment bank after being demoted, an unnamed source told Bloomberg.
Carlyle co-founder and chief investment officer, William Conway, said in a statement that Petrick’s appointment was part of the firm’s expansion of its credit and capital markets business.