Carlyle to open offices in China, India, Australia

Amid a personnel shift, global private equity firm The Carlyle Group is opening new offices in Mumbai, Beijing and Sydney. Michael Kim will leave the firm.

The Caryle Group announced Wednesday that it is reorganizing and expanding its pan-Asian investment presence. The plans include opening new offices in Beijing, Mumbai and Sydney over the next three months.

The reorganisation also includes personnel changes. The Asia buyout fund will continue to be led by managing director Xiang-Dong Yang. He is being joined by managing director Gregory Zeluck.

Managing director John Kwun has been named head of Korea buyout, while regional heads for Australia and India have not been named. Managing director Michael Kim is leaving Carlyle to “pursue private interests in the investment and public service arena”.

David Rubenstein, co-founder and managing director at Caryle, said in a statement that the opportunity in Asia is “tremendous”. He also cited recent successful investments in India, as well as a “need” for private equity investment in Australia, as the impetus for the new offices.

Caryle’s five Asia funds have $1.6 billion in assets under management. The firm has offices in Hong Kong, Seoul, Singapore and Tokyo. The firm opened an office in Shanghai in 2004.