Carlyle CEO flags credit market volatility but sees no signs of deterioration

[Carlyle Group Files With SEC For Initial Public Offering]
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Carlyle Group (NASDAQ:CG [https://seekingalpha.com/symbol/CG]) Chief Executive Harvey Schwartz said turbulence in credit markets remains on his “worry list,” though he doesn’t yet see evidence of serious cracks in the economy.

Among its holdings, “data suggests that companies are growing, employment is steady, inflation is a little sticky, but there’s nothing in the immediate horizon that suggests that things are crumbling,” Schwartz said Sunday in an interview with Bloomberg Television. “Having said that, late cycle, it should be on a worry list.”

Schwartz spoke from the Formula 1 U.S. Grand Prix in Austin, where he appeared alongside Oracle Red Bull Racing Principal Laurent Mekies. Carlyle (NASDAQ:CG [https://seekingalpha.com/symbol/CG]) recently entered a multi-year sponsorship deal with the team as part of its broader brand-building push.

Credit markets have been unsettled by recent defaults at Tricolor Holdings and First Brands Group, with JPMorgan’s (JPM [https://seekingalpha.com/symbol/JPM]) Jamie Dimon warning that more problems could emerge. Some regional bank shares also fell this week after reports of loan fraud.

Schwartz said Carlyle’s partnership with Red Bull aims to expand the firm’s global visibility but emphasized that investment performance remains the top priority. Mekies added that both brands are seeking to reach new audiences and hinted that Red Bull would decide on its second Formula 1 driver alongside Max Verstappen within a few races.

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