Carlyle hires Warburg exec as deputy CIO

The firm has named former Warburg Pincus managing director Kewsong Lee as its first deputy CIO for private equity and a member of each fund’s investment committee.

The Carlyle Group has hired Kewsong Lee, a longtime private equity executive at Warburg Pincus, as its deputy chief investment officer for corporate private equity. 

Lee will join Carlyle in the newly created position in late December and will be based in New York and Washington DC, according to a statement. He was most recently a managing director and member of the executive management group at Warburg Pincus, where he worked for 21 years and led the firm’s consumer, industrial and services group, as well as its financial services practice. Prior to Warburg he was a consultant at McKinsey & Company.

Lee, Carlyle deputy CIO

At Carlyle, Lee will work alongside co-chief executive officer and chief investment officer William Conway as a member of each fund’s investment committee. He will also join Carlyle’s management and operating committees.

Carlyle is in the process of raising its sixth US-focused private equity fund, which had collected $10.3 billion, north of its $10 billion target, as of early August. Carlyle also manages 11 buyout funds that target opportunities in Africa, Europe, the Americas, the Middle East and Asia. 

Corporate private equity is Carlyle’s largest business as measured by assets under management. The firm had $57.9 billion of assets in corporate private equity as of early August, and $180 billion of total assets across 118 funds and 81 funds of funds vehicles.