Wayne Wen-Tsui Tsou, a senior executive who co-led Warburg Pincus' new Beijing office, has left the firm to join The Carlyle Group.
Warburg Pincus opened its Beijing office in January 2003, naming Tsou and Chang Sun to the top posts. Tsou led Warburg Pincus' major Chinese investments – a $42 million stake in Beijing telecommunications equipment maker Harbour Network, and an investment in AsiaInfo, a telecom software company.
Carlyle, which does not have a Beijing office, will rely on Tsou and managing director Tony Jansz to pursue a technology investment programme throughout the Asia-Pacific region. Jansz co-founded Carlyle Asia Venture Partners in 1999. In 2002, the group closed its second fund on $175 million (€136 million).
In hiring Tsou, Carlyle is filling a void left by Gabriel Li, a managing director who last November exited Carlyle's Asia venture capital operation to join Orchid Asia. The following month, Carlyle shuttered an embryonic venture effort in Japan, explaining that the market there was not ripe enough.
Tsou, a native of Shanghai, joined Warburg Pincus in 1997 after having served as an investment banker for Lazard Freres and, before that, Morgan Stanley, throughout Asia. He was involved in several telecommunications privatisations in Southeast Asia. His career began at Bellcore (now Tecordia), a shared research and development operation run by seven US regional telephone companies.
Tsou's scholarly credentials are similarly impeccable – he holds a Juris Doctor and an MBA from Harvard, a Master of Science in electrical engineering from the California Institute of Technology, and a summa cum laude undergraduate degree in electrical engineering from the University of Michigan.
Other than in Beijing, Carlyle and Warburg Pincus shadow each other in every major Asian geography. Both firms maintain offices in Tokyo, Singapore, Seoul and Hong Kong. In India, Warburg Pincus has a Mumbai office, while Carlyle maintains an office in Bangalore.