Ritika Gawande Private Equity . She lives in Wellesley with her husband and two children. When it came time for Rubenstein, 68, to name his family office, he dubbed it Declaration Capital. Ritika Gawande. They built the Washington-based company into one of the world’s largest managers of alternative assets -- a pioneer in leveraged buyouts that’s expanded globally into credit, real estate, energy and infrastructure investments.One of its most successful investments was a buyout of DuPont Co.’s auto-paint business in 2013. Bloomberg Billionaires Index puts his fortune at $2.8 billion Alexa R. Declaration Partners LP. She started her career at Morgan Stanley in real estate investment banking.Alexa holds a bachelor’s degree, cum laude, and an MBA with distinction from Harvard University. Carlyle made $4.5 billion, its second-biggest profit ever on the deal, and an annualized return of 80 percent. Declaration has completed about 10 deals, a person with knowledge of the matter said. Declaration Partners LP is an investment firm backed by the family office of David M. Rubenstein, the Co-Founder and Co-Executive Chairman of The Carlyle Group. They “need to be sensitive to potential conflicts of interest,” said R. Scott Beach, head of the family office practice at law firm Day Pitney. Mrs. Rachlin, 25, is a financial analyst in the Boston office of Goldman Sachs, where she works in private wealth management. He’s also funded an affiliate called Declaration Partners, which has wider ambitions.He recruited Brian Frank, a former money manager at The staff includes Rubenstein’s daughter, Alexa Rachlin, who did a four-year stint in private wealth management at Goldman Sachs Group Inc. and was an investment director at Cambridge Associates, according to her LinkedIn profile.Rubenstein declined to comment through a Carlyle spokesman, and Frank didn’t reply to a message seeking comment.Family offices are increasingly common for the ultra-wealthy to manage their fortunes and take care of their personal needs. Vikas Mouli. Alexa Rachlin, Rubenstein’s daughter who spent four years at Goldman Sachs private wealth management, is also part of the staff. Alexa has over twelve years of investment experience, most recently serving as an Investment Director at Cambridge Associates in the firm’s Private Practice where she worked with family offices on asset allocation and manager selection. He created the firm last year as he stepped back from his role as co-chief executive officer of Carlyle and became co-executive chairman.The former White House staffer who became a leveraged-buyout legend will directly oversee Declaration Capital.
Action Item: Contact Alexa Rachlin at arachlin @declarationpart ners.com. David Rubenstein, co-founder of the Carlyle Group, has started a family office called Declaration Capital, Bloomberg reported. Alexa Rachlin is a Principal at Declaration Partners LP focusing on strategic investments.
The gains were second only to the firm’s investments in China Pacific Insurance Group Co. from 2005 to 2007.Rubenstein and Conway announced in October that they were ceding their roles as co-CEOs to Glenn Youngkin and Kewsong Lee at the start of this year, passing on control of the $201 billion firm to the next generation. Brian Frank, former money manager at Michael Dell’s MSD Partners, is running the unit, which focuses on venture, growth and family-owned businesses, the story said. Alexa has more than 12 years of investment experience, most recently serving as an investment director at Cambridge Associates in the firm’s Private Practice where she worked with family offices on asset allocation and manager selection.
Previously Alexa worked at Goldman Sachs in Private Wealth Management advising clients with assets from $10 million to $1 billion+ on fixed income, equities, hedge funds, and private equity.
In July, she expects to transfer to the firm’s New York office. In April, it took part in a $50 million funding round for Workfusion, a company that develops intelligent automation software.Rubenstein founded Carlyle in 1987 with Bill Conway and Dan D’Aniello, and the trio initially backed the venture with $5 million. Other employees at Declaration Partners include Principals Charles Rayner, previously an analyst at Marble Arch Investments, and Alexa Rachlin, Rubenstein’s daughter and previously an investment director at Cambridge Associates. Rubenstein, who’s worth $2.8 billion, according to the Family offices can present challenges for private equity and other investment professionals. His daughter Alexa Rachlin is on staff of Declaration Partners