Ex-SEC Head to Join Carlyle Group as Advisor

Carlyle Group Inc., a private equity firm, said Arthur Levitt, former chairman of the Securities and Exchange Commission, will join the firm as a senior advisor. The 70-year-old Levitt, who retired in February from the SEC after 7 1/2 years, joins several other former prominent government officials, including Carlyle Chairman Frank Carlucci, who is a former U.S. defense secretary. Carlyle advisors also include former President George Bush, former Secretary of State James Baker and former British Prime Minister John Major. Senior advisors help Carlyle evaluate business prospects and raise money from investors. Carlyle, based in Washington, manages more than $13 billion in 12 private equity funds raised since its founding in 1987.