Carlyle Group and Warburg Pincus told employees they'll require COVID-19 vaccinations to return to the office in September.
Carlyle, a private equity firm that oversees $260 billion of assets, and Warburg, with $60 billion, told U.S. employees of the policy in recent days, according to people familiar with the plans. They're among the first financial-services companies to demand that employees get vaccinated in order to work in the office.
A Carlyle spokeswoman confirmed the information, announced last week at a town hall meeting, and Warburg declined to comment. Warburg has told employees that accommodations can be made for those who don't get the shots, said a person familiar with internal communications. Carlyle said at its town hall that getting the vaccine was not a condition for remaining employed.
Employers may demand vaccines and request proof under federal law, according to guidance provided last week by the Equal Employment Opportunity Commission. Workers can ask for exceptions for religious or medical reasons.
Most companies have opted to encourage rather than demand that staff get vaccines, offering to lift mask or testing requirements. About 20% of employers are mandating them in order to return to the office, according to a Morning Consult poll of 1,070 working adults conducted at the end of May.
Recent employee surveys by hedge funds and other money managers indicate that while firms have a higher-than-average vaccination rate, some holdouts remain.
Millennium Management told employees of the $50 billion hedge fund that 80% of U.S.-based staff were at least partially vaccinated and an additional 8% planned to be inoculated, according to an employee who received an email disclosing the results of a recent internal survey.