Carlyle thinks the addressable family office market has total assets of $5 trillion, and the firm aims to capture a slice of it.

Carlyle Group has recruited two senior executives, who concentrate on family offices, both in newly-created roles. The firm confirmed the appointments to this news service.

The US-headquartered organization is targeting ultra-high net worth individuals as new sources of wealth. 

David Seeberan was named a partner and global head of the family office group, while Victoria Matthews joined as a managing director and head of the family office group for Europe and Asia, Bloomberg initially reported on Friday. Carlyle confirmed details to Family Wealth Report.

Seeberan, based in San Francisco, joined Carlyle from Cercano Management, an investment firm catering to ultra-wealthy individuals and family foundations. He is due to report to Nedelman and Amal Alibair, the head of its client business for North America. Matthews, based in London, was previously head of UK family offices and endowments at BlackRock.

The article noted that Carlyle reckons that the addressable family office market has total assets of $5 trillion, and the US firm has raised about $50 billion from wealthy families and individuals.