Key Takeaways
- Geography: United States.
Analysis
The Carlyle Group has named Alex Chi, a 30-year Goldman Sachs veteran, as the new head of its direct lending platform, as the firm intensifies efforts to scale its $199 billion global credit business. Chi will join in early 2026 as a Partner, reporting directly into Carlyle’s Global Credit leadership, and serve as co-deputy Chief Investment Officer.
Chi currently serves as Co-Head of Americas Private Credit at Goldman Sachs Asset Management, where he has been instrumental in managing relationships with private equity sponsors and leading the firm's business development companies (BDCs). At Carlyle, he will also join the firm’s leadership committee, a signal of his strategic role in advancing Carlyle’s ambitions in the private credit market.
Direct lending currently accounts for roughly $11 billion of Carlyle’s credit assets under management, but it has become a strategic priority under CEO Harvey Schwartz, a former Goldman Co-President. Since joining in 2023, Schwartz has accelerated Carlyle’s shift toward credit-focused strategies, hiring former Goldman colleagues including Jeff Nedelman (Client Strategy Head) and Lindsay LoBue (Chief Operating Officer).
Chi replaces Aren LeeKong, who exited in 2024. The role had been temporarily filled by Justin Plouffe, Carlyle’s Deputy CIO of Global Credit.
Other recent senior hires by Carlyle include:
- Michael Hart, former KKR executive, joined as Managing Director of Credit Structuring in 2024.
- Sandra Horbach, a private equity veteran, was promoted to Chair of Americas Corporate Private Equity in 2024.
- Doug Ostrover, previously CEO of Owl Rock Capital, rejoined Carlyle in an advisory capacity to support private credit scaling efforts.
- Lauren Coape-Arnold, formerly of BlackRock, joined Carlyle’s Global Credit ESG strategy team in London.
Under Schwartz’s leadership, Carlyle’s credit division has expanded from 46% to 51% of fee-earning AUM and continues to be a core pillar of growth. With Alex Chi’s appointment, Carlyle strengthens its position to compete more directly with both traditional banks and non-bank lenders in the booming private lending space.