Bryan N. Corbett was named president and CEO of Managed Fund Association, a hedge fund industry group, effective Jan. 21.
He will be based in MFA's Washington headquarters.
Mr. Corbett replaces Richard H. Baker, who has held the position since 2008 and retired on Dec. 31, confirmed Brendan Gilfillan, an MFA spokesman, in an email.
Mr. Corbett was managing director in the corporate private equity group at Carlyle Group where he was head of the firm's OneCarlyle Global Investment Resources Group. Mr. Corbett had oversight of a team that provides strategic and operational support to investment teams and portfolio companies, according to his biography on Carlyle Group's website.
Earlier in his tenure at Carlyle Group, Mr. Corbett managed U.S. government and regulatory issues for the firm, an MFA news release said.
Leigh Farris, a Carlyle Group spokeswoman, did not immediately respond to a request for information about Mr. Corbett's replacement.
David M. Rubenstein, co-founder and co-executive chairman at Carlyle, told Bloomberg in an interview that "Bryan is the kind of person you want to have representing you. He understands finance, he understands economics, he understands Capitol Hill."
Prior to joining Carlyle Group in 2008, Mr. Corbett was a special assistant for economic policy to President George W. Bush and was senior adviser to Robert Kimmitt, deputy secretary of the Treasury Department.
"Bryan's combination of extensive commercial experience and deep policy expertise will strengthen MFA's ability to meet the evolving needs of our growing and diverse membership for years to come," said Jonathon Hitchon, managing director and chief operating officer of Two Sigma Investments and chairman of MFA's board of directors, in the news release.
Mr. Corbett said in the release: "Hedge funds are a critical component of the global financial services industry, creating value for investors, including charitable endowments, educational institutions, hospitals and pension funds. I am proud to join and lead the MFA."
