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Carlyle parts ways with MD, exits Italy's Marelli Motori

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Carlyle parts ways with MD, exits Italy's Marelli Motori

Carlyle Group LP Managing Director Vincenzo Narciso left the private equity firm during the week ending May 24, The Wall Street Journal reported, citing the U.K. business registry Companies House.

Narciso was responsible for investor relations and fundraising in Europe. Narciso's exit follows the planned departure of Managing Director Zeina Bain to join Intermediate Capital Group PLC and Andrew Burgess' transition to senior adviser from managing director.

The personnel changes come as Carlyle Europe Partners LP, the firm's fifth flagship private equity fund focused on Europe with a €5 billion target, nears its final close, the Journal noted.

Separately, Carlyle sold Italian electric motor and generator maker Marelli Motori SpA to diverse engineering and industrial group Langley Holdings PLC in a deal completed in Milan on May 23. The deal included Langley's full repayment of Marelli's bank debt of €55 million, according to a May 24 release.