The report noted that 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, Bloomberg reported last Friday.

The report noted that Carlyle 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, the news service reported, citing an internal memo it has seen. Family Wealth Report contacted Carlyle for comment and may update this article in due course.

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.