Carlyle plans new Asian offices

Carlyle is planning to open three new offices in the next three months as part of a reorganisation of its pan-Asian investment activities. The firm will open operations in Beijing, China, Mumbai, India, and Sydney, Australia. Managing director Xiang-Dong Yang, a Chinese national who joined Carlyle in early 2001, will continue to lead the firm’s Asian buyout fund. He will be joined by managing director Gregory Zeluck, who joined Carlyle in 1998.

The new offices combine with existing operations in Shanghai, Hong Kong, Seoul, Singapore and Tokyo. Carlyle’s five funds in Asia and Japan have more than US$1.6bn in assets under management.

David Rubenstein, a Carlyle co-founder and managing director, said the firm was at the vanguard of exploring opportunities in Asia. “Having opened an office in Shanghai in 2004, we now plan to expand our reach and effectiveness at finding and executing buyout, growth capital and real estate transactions,” he said.

Yang and Zeluck will operate with the assistance of several regional office heads. Managing director John Kwun has been named regional head of South Korean buyouts, while regional heads for Indian and Australian buyouts will be named shortly.

Managing director Wayne Tsou, a Chinese national, directs Carlyle’s growth capital investing in Asia and Japan, working with Haruyasu Asakura in Japan and Shankar Narayanan in India.

Managing director Jason Lee directs Carlyle’s Asian real estate activities, working with managing director Rio Minami in Japan.

As part of the Asian reorganisation, managing director Michael Kim will depart Carlyle to pursue private interests in the investment and public service arena. According to reports, Kim is planning to set up an independent US$1bn buyout fund, working with five other executives from the firm.