Carlyle hires former Intel president for TMT team

Renée James, who held various positions at Intel throughout her 28-year tenure, will be a Carlyle operating executive, effective 29 February.

The Carlyle Group has hired former Intel Corporation president Renée James as an operating executive in the TMT team, the firm said.

James’ new position starts on 29 February in the firm’s Menlo Park office. Her role entails advising Carlyle on industry and operational due diligence for possible investments and she could serve on boards of portfolio companies, the firm said.

She joins a group of more than 25 senior executives, such as Christopher Dodds, a former chief financial officer and executive vice president of Charles Schwab, who is a San Francisco-based operating executive in the financial services sector.

James had been at Intel for 28 years until January 2016. She initially joined the company as a product manager, according to reports, before holding titles such as executive vice president and president.

Currently, she is vice chair of the President’s National Security Telecommunications Advisory Committee, a post she has held since March 2012, according to her LinkedIn profile.

Carlyle’s investments in the TMT sector include Veritas, an $8 billion deal announced last year and which closed this month, and Dealogic, a $700 million deal from 2014.

Carlyle's most recent tech fund was Carlyle Europe Technology Partners (CETP) III, which closed in May 2015 on €656 million. Half of the capital came from commitments in CETP II. CETP III drew investments from Belgian investment firm Brederode, Bregal Investments, Shell Asset Management Company, New York State Common Retirement Fund, Norwegian asset manager Formuesforvaltning, and Germany insurance company VHV Allgemeine Versicherung, among others, according to PEI's Research & Analytics division.

Carlyle manages $183 billion in assets as of 31 December. The firm closed its second mid-market fund on $2.4 billion in early February, as reported by Private Equity International. The fund has invested in companies such as refinery Philadelphia Energy Solutions, cyber-risk and compliance services company Coalfire, and automotive components manufacturer AxleTech International Holdings.