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Report: Carlyle Group appoints senior adviser of credit group

Carlyle Group LP appointed Craig Farr senior adviser of its credit group, The Wall Street Journal reported, citing "people familiar with the matter."

Previously, Farr was head of credit and capital markets at KKR & Co. LP.

The announcement followed Carlyle Group's agreement to acquire Global Credit Ratings, a credit ratings agency based in South Africa. Global Credit Ratings is the largest ratings agency in Africa by customers.