Schwartz Pushes Carlyle to Revive Washington Brand in Trump Era

In his first year as Carlyle Group Inc.’s chief executive officer, Harvey Schwartz boarded the Acela each Tuesday, Starbucks coffee in hand, to visit the investment firm’s Washington headquarters.

He arrived at an office that felt like an outpost.

The firm got its start in the US capital and rose to prominence after hiring former cabinet officials who parlayed their Washington ties into profits. But its proximity to power, once a selling point, became a flashpoint for accusations of crony capitalism. Carlyle downplayed those connections as it grew. New York — the home of its C-suite — became its power center, while its Washington founders ...