Carlyle Dismantles US Consumer Buyout Team in Strategy Shift (1)

Carlyle Group Inc. is retreating from bets on US consumer brands as the firm reorganizes its private equity business in the country around core sectors such as financial services and technology.

The alternative asset manager is dismantling its US consumer, media and retail investing team, according to people familiar with the matter.

Carlyle also asked four dealmakers focused on those bets to leave in the past week, saying these investments are no longer central to its buyout strategy, one of the people said. David Basto, a partner, was among them, another person said.

The firm’s private equity business will ...