07:15 AM EST, 12/12/2024 (MT Newswires) -- Carlyle Group ( CG ) has paused investments in high-end European consumer goods companies, Bloomberg reported Thursday, citing people with direct knowledge of the matter.

Higher inflation and credit costs have reduced consumer demand for luxury goods, spurring Carlye to curb its appetite for buying and selling such firms, the report said.

The company's European team has been revamped, with Massimiliano Caraffa departing his post as head of consumer, media, and retail, and Marco De Benedetti, who oversaw many of Carlyle's previous deals, shifted to chair of the company's Italy division, the report said.

Carlyle did not immediately reply to MT Newswires' request for comment.

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