Carlyle Group Says Wealth Business Has Doubled Since 2023

Carlyle Group Inc.’s wealth business has nearly doubled since Harvey Schwartz became chief executive officer in 2023 and is on track to account for some 20% of the firm’s capital flows.

“The silver tsunami is upon us,” Shane Clifford, global head of wealth at Carlyle, said in an interview with Bloomberg Television. Clifford was referring to the massive wealth transfer from Baby Boomers to their surviving spouses and children.