MONEY MANAGEMENT

Carlyle Group adds strategist to global market strategies unit

Frank Barbarino joined Carlyle Group's global market strategies business as principal and investment strategist.

Mr. Barbarino specializes in middle-market direct lending in this newly created position, said Randall Whitestone, a Carlyle Group spokesman, in an e-mail.

Mr. Barbarino reports to Michael “Mitch” Petrick, managing director and head of the global market strategies division.

Mr. Barbarino was a senior research consultant at NEPC. Michael Manning, NEPC's president, did not return a call seeking information about Mr. Barbarino's replacement.

Carlyle Group's global market strategies unit manages $30 billion in hedge funds, structured credit, middle-market credit, energy mezzanine and distressed products. The unit also has taken 55% ownership stakes in hedge fund managers Vermillion Asset Management and Claren Road Asset Management.