The Carlyle Group, the US alternative assets manager, has hired Anand Balasubrahmanyan as a director in Singapore, where he will establish a buyout team to focus on southeast Asia. His appointment is aimed at expanding Carlyle’s buyout capability in the region. The firm is understood to be raising a number of Asia-dedicated funds including a new pan-Asian buyout fund.
Reporting to XD Yang, a managing director in Hong Kong and co-head of Carlyle Asia Partners, Balasubrahmanyan joins Carlyle after twelve years in investment banking. Most recently he was executive director and head of global capital markets for southeast Asia at Morgan Stanley.
Yang said: “We see increasing investment opportunities in southeast Asia. We are stepping up our efforts with a dedicated team based in Singapore under Anand’s leadership to pursue investments across the region, especially in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.”
The 33-strong Carlyle Asia Partners team, which operates from Hong Kong, Mumbai, Seoul, Shanghai, Sydney and Singapore, manages $6.3 billion in committed funds. David Tung, a managing director who is responsible for the firm’s Asia investor relations, started Carlyle’s Singapore office in July 2000.