Capital Buzz: Carlyle gives a boost to three executives

Correction: An earlier version of this story inaccurately reported the number of copies of the Washington Examiner that have been published. The story has been corrected.

The Carlyle Group this month promoted three high-profile performers to a key committee, including a gritty Wall Street veteran, a super-salesman to the wealthy and powerful, and a well-connected Washington attorney versed in international transactions.

There is no sign that the firm’s 60-something founders — Daniel A. D’Aniello, William E. Conway Jr. and David M. Rubenstein — are leaving anytime soon, but Carlyle is nevertheless expanding its all-important management committee to include:

Mitch Petrick, 51, hired from Morgan Stanley three years ago to beef-up Carlyle’s distressed debt, hedge funds and lending business.

“These guys built a great firm over 25 years, and they did it without our help,” Petrick said. “We’re there to help them take it where they want to go.”

Mike Arpey, 50, a Rubenstein protege who joined Carlyle from Credit Suisse a few years ago, who now runs the crucial capital raising operation, which fuels the Carlyle deal machine.

David Marchick, 46, an attorney who runs government relations, research and public relations. Marchick joined around five years ago from Covington & Burling, where he was an expert in cross-border transactions.

The three new members join a management committee that already includes the three founders, Chief Financial Officer Adena Friedman, Chief Operating Officer Glen Youngkin and General Counsel Jeff Ferguson.

With Carlyle looking for returns on its investors’ $170 billion in assets, Petrick said the firm needs all the firepower it can get.

“The firm has to be run now,” he said. “Who becomes the Bill Conway, the David Rubenstein and the Dan D’Aniello hasn’t been decided yet.”

Hotel makeover

With the office market in a decline, Falls Church-based Hitt Contracting, a national contractor specializing in interiors, has been grazing in the hotel and residential sector of late.

The family-owned construction business put the finishing touches on the $15 million upgrade of the new luxury Capella hotel in Georgetown, which opened last weekend. The 1963 building, former home of the Trial Lawyers Association, now has 49 guest rooms, a restaurant, infinity pool and spa. Horst Schulze, president of Atlanta-based Capella Hotel group, heads up the management company which will operate new lodging for owner Castleton Holdings. Schulze is former president of the Ritz-Carlton, which is owned by Bethesda-based Marriott International.

In June, Hitt will deliver Prosperity Flats, a $50 million apartment complex within walking distance from the Dunn Loring Metro. The company is currently topping out a 234-unit apartment complex at 440 K St. NW in the Mount Vernon Triangle area, which will open later this year as well.

Music lessons

Peter Nostrand, 66, former chairman and chief executive of SunTrust Bank, has a second career far from the banking boardroom.

The former banker, who retired six years ago, is once more headed to England’s Oxford University for his third annual 100-day intensive private tutoring session from the chairman of Oxford’s music department.

“He tears apart my music,” said Nostrand, who pays 50 British pounds per hour to get raked over the embers.

The financier-turned-music-composer, who humbly compares his oeuvre to something in the vein of John Williams, has written 150 pieces of music and has five albums on the market, including three neoclassical romantic albums and a country music album recorded in Nashville. All are now available on iTunes, Amazon and elsewhere.

Factoid of the Week

532,681,817 That’s the number of copies of the Washington Examiner that will have been published during its 2,539 days of life, starting Feb. 8, 2005, and concluding three months from now, on June 14, 2013. Denver- based Clarity Media Group announced last week that the newspaper will cease publication, although it would maintain some online presence. Clarity, which also owns the Weekly Standard in Washington, is replacing the Examiner with a new right-of-center political opinion magazine June 17, geared to Washington elites. The media company is aiming for a circulation of 45,000 for the free political weekly.

Thomas Heath is a local business reporter and columnist, writing about entrepreneurs and various companies big and small in the Washington Metropolitan area. Previously, he wrote about the business of sports for The Post’s sports section for most of a decade.
Comments
Show Comments
Most Read Business