(The following is a reformatted version of a press release
issued by The Carlyle Group and received via electronic mail.
The release was confirmed by the sender.) 
February 25, 2013 
The Carlyle Group Names Jacques Chappuis to Lead Solutions
Morgan Stanley Executive Brings 20 Years of Investment Product
Washington, DC - Global alternative asset manager The Carlyle
Group (NASDAQ:CG), today announced that Jacques Chappuis will
join the firm as Managing Director and Head of the Solutions
business segment, where he will lead the growth and development
of the business. Mr. Chappuis comes to Carlyle from Morgan
Stanley, where he serves as President of Alternative Investments
Partners (AIP). He begins his duties in May and will be based in
New York. 
David M. Rubenstein, Carlyle Co-Chief Executive Officer, said,
“Jacques has an extraordinary track record of innovation in the
development and delivery of products and services that meet and
anticipate investor needs. We are delighted that he will bring
his experience and energy to take our Solutions business to a
new level of success.” 
Solutions is one of Carlyle’ four business segments; the others
are Corporate Private Equity, Real Assets and Global Market
Strategies. In this new role, Mr. Chappuis will build upon the
strong foundation created by AlpInvest, the Dutch private equity
fund-of-funds manager, which Carlyle first partnered with in
2011. Mr. Chappuis and the Solutions team will consolidate
existing Carlyle products and create new ones, including:
Customized Managed Accounts, Fund-of-Funds, Portfolio Advisory
and Risk Management Services, outcome-oriented products and
other new initiatives that facilitate third party access to
Carlyle funds. 
Mr. Chappuis said, “This is a rare and fantastic opportunity to
build out a business within a premier global firm. Demand for
investment product customization and specialization increases by
the day and I am eager to harness the power of the Carlyle brand
and team to develop and innovate for Carlyle’s investors.” 
As President of AIP, Mr. Chappuis led a team of 220 people in a
global fund of funds business with $29 billion across hedge
funds, private equity, real estate and multi-asset class
solutions. He transformed AIP from a traditional fund of funds
to an alternative investments solutions business that accounted
for 80 percent of asset growth. Prior to becoming President in
2009, Mr. Chappuis was Head of Alternative Investments at both
Morgan Stanley and Citigroup’s wealth management organizations. 
Mr. Chappuis is a graduate of Tulane University and earned his
MBA from Columbia University. 
The Carlyle Group
Liz Gill: +1 (202) 729-5385 
(bjh) NY 
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