Frank Carlucci

Hire former statesmen to open doors your own name can't

Carlyle brought in former officials, including Defense Secretary Frank Carlucci, Secretary of State Jim Baker, President George H.W. Bush and UK Prime Minister John Major, as partners and advisors. Rubenstein says they opened doors, especially when raising money abroad.

“And then later, George Herbert Walker Bush, former president of the United States, became an advisor to us. And then John Major, former prime minister, became an advisor to us as well. So we did open doors with these people because if your last name is Rubenstein and you go to the Middle East to raise money, might not be as compelling as if you go with Jim Baker.”

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