(Reuters) – Private equity firm Carlyle Group is dismantling its U.S. consumer, media and retail investing team as it shifts focus to sectors such as healthcare and technology, Bloomberg News reported on Monday, citing people familiar with the matter.
Four dealmakers focused on the sectors the company is pulling back from were asked to leave in the past week, according to the report.
This comes months after Carlyle hired Harvey Schwartz, a former Goldman Sachs executive, as its CEO.
Schwartz has been looking to cut back on expenses to improve the company’s stock price, the Bloomberg report said.
Carlyle did not immediately respond to Reuters’ request for a comment.
The reorganization would result in job changes or eliminations for about a dozen staff, the report said, adding the company would continue chasing such investments in Europe and Asia.
The company will also focus on government services, industrials and financial services, the report added.
(Reporting by Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)
