Carlyle Banks on Red Bull F1 Racing Deal to Catch Up in Wealth

Carlyle Group Inc.’s Shane Clifford was far from his usual stomping grounds, escorting a group of clients to catch a glimpse of Formula 1 driver Max Verstappen.

Clifford, Carlyle’s head of global wealth, was in Detroit, courting a group of financial advisers at the invite-only unveiling of the Oracle Red Bull Racing 2026 car — a perk the $477 billion alternative asset manager is offering as part of a first-of-its-kind deal it struck with the F1 team.

The partnership likely costs the private equity firm about $10 million a year, according to Jim Andrews, founder of sponsorship consulting ...