Carlyle’s Basmadjian, Atkins to Succeed Pace in Liquid Credit

(Bloomberg) -- Carlyle Group Inc. has appointed Lauren Basmadjian and Colin Atkins to succeed Linda Pace in overseeing the firm’s liquid credit business.

Pace will stay on with the firm as vice chair of global credit as of Dec. 31, focusing on investing capital across the $53 billion platform, according to a memo Carlyle shared with Bloomberg News. She will also remain as chief executive officer of the firm’s business development companies, co-portfolio manager of a revolving loan fund and a private credit fund, as well as a member of several investment committees, including for collateralized loan obligations.

Basmadjian and Atkins will become co-heads of liquid credit, with Basmadjian leading the U.S. loans and structured credit business, and Atkins continuing to lead the firm’s European structured credit team, the memo said.

The move is part of a succession plan for Pace, who joined Carlyle in 1999 and served as head of the loans and structured credit business for more than 10 years, according to the memo.

“It has been a privilege to play a leadership role in growing Carlyle’s CLO business for the past 20 years, along with helping expand the broader credit platform into new areas including in illiquid credit,” Pace said in an emailed statement.

Basmadjian joined Carlyle earlier this year as a senior portfolio manager, focused on leveraged loans and structured credit. She previously was at Octagon Credit Investors for nearly two decades, where she was a senior portfolio manager and a member of its investment committee.

Before leading the European structured credit business, Atkins was head of credit for the European leveraged finance group, according to the firm’s website. He joined Carlyle in 2004.

Headed by Mark Jenkins, Carlyle’s credit platform manages strategies including liquid, illiquid and real asset debt like aviation finance and infrastructure credit.

©2020 Bloomberg L.P.