A microscopic analysis of the extremal Kerr black hole will be initiated using a brane construction. The key observation that will be presented is the following: the magnetically charged spinning one-brane in minimal supergravity admits a decoupling limit which interpolates smoothly between the an orbifold of three-dimensional anti-de Sitter times a sphere and the near-horizon region of the extremal Kerr black hole times a circle. This solution will be used to find the specific deformations of the CFT which correspond to the supergravity deformation leading to the Kerr geometry.