Washington, DC – Global alternative asset manager The Carlyle Group today named Peter J. Clare Co-head of the U.S. Buyout group and Adam J. Palmer Head of the Global Aerospace and Defense sector team. Both positions are based in Washington, DC and are effective immediately.

Mr. Clare moves into this new position from his current role as Deputy Head of the U.S. Buyout group and Head of the Aerospace and Defense sector team.

Allan Holt, Co-head of the U.S. Buyout group, said, “I am pleased to have Pete join me as Co-head of the U.S. Buyout group. Pete has built one of the best investment track records at Carlyle and he has done it across different geographies and asset classes. He consistently builds strong teams and brings a focus and discipline to investing that has been the hallmark of Carlyle’s success.”

Carlyle Co-founder and Chief Investment Officer William E. Conway, Jr. said, “Allan and Pete have worked together for the past 18 years and have forged a successful partnership that has and will continue to serve our investors well in the future.”

Mr. Palmer succeeds Mr. Clare as Head of the Aerospace and Defense sector team.

Mr. Clare said, “Adam’s knowledge and depth of experience in the aerospace and defense sector is exceptional and his results in creating value are outstanding.”

Mr. Clare joined Carlyle in 1992 as a member of the U.S. Buyout group until moving to Hong Kong as a founding member of the Asia Buyout group from 1999 to 2001. In 2001, he launched Carlyle’s initial investments in distressed debt, which led to the creation of Carlyle Strategic Partners. In 2004, Mr. Clare was promoted to Global Head of the Aerospace, Defense and Government Services sector team. And in 2010 he was named Deputy Head of the U.S. Buyout group. Mr. Clare has played a leadership role in many of Carlyle’s successful investments, including United Defense, KorAm Bank, Aviall, Avio, Standard Aero, ARINC and Booz Allen Hamilton. He serves on the boards of ARINC, Booz Allen Hamilton, CommScope, Sequa Corporation and Wesco Aircraft.

Mr. Palmer joined Carlyle in 1996 as a member of the Aerospace, Defense and Government Services sector team. He has played a leadership role in Carlyle’s successful investments in USIS, Avio, Vought Aircraft, Landmark Aviation, Wesco Aircraft, Sequa Corporation and RPK Capital. Mr. Palmer serves on the boards of Triumph Group, Sequa Corporation, Wesco Aircraft and RPK Capital. In 2010, Mr. Palmer was named to Fortune Magazine’s 40 Under 40 list in recognition of his numerous investment successes.

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The Carlyle Group is a global alternative asset manager with $97.7 billion of assets under management committed to 76 funds as of September 30, 2010. Carlyle invests across three asset classes - private equity, real estate and credit alternatives - in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $64.7 billion of equity in 1015 transactions. The Carlyle Group employs more than 900 people in 19 countries. As of June 30, 2009, in the aggregate, Carlyle portfolio companies have more than $84 billion in revenue and employ more than 398,000 people around the world. Web: www.carlyle.com