Providence appoints STAR chief to Hong Kong post(2)

Providence Equity Partners continues its Asian expansion, this time with the appointment of the former CEO of STAR, a leading media and entertainment company on the continent.

Providence Equity Partners named Michelle Guthrie, formerly the CEO of STAR, to the position of managing director in Asia Pacific. Guthrie will be based in the firm’s Hong Kong office, and will begin her tenure in June of this year. The appointment follows the firm’s opening offices in Hong Kong and India this January, and a $12.0 (€9 billion) fund close this February.

Guthrie rose through the ranks at STAR to be appointed CEO at the company in 2003. Prior to that, she worked at FOXTEL in Australia and BSkyB in the UK, with a total of twelve years of experience working in the pay-TV industry.

“Her tremendous experience at STAR and strong relationships with proven managers in the media and entertainment industries in Asia, we expect Michelle will contribute significantly,” said Jonathan Nelson, the CEO of Providence Equity Partners.

The Providence, Rhode Island-based firm’s first appointment to its Hong Kong office was the investment banker Andrew Rickards, CEO of Rothschild & Sons in Asia, and former co-head of communications, media and entertainment in Asia Pacific for Goldman Sachs. Rickards will lead the firm’s activities in Asia, and begins his tenure as managing director this May.

The private equity firm specializes in media, entertainment, communications and information investments, and recently closed its sixth fund at nearly three times the size of its previous vehicle. Providence Equity Partners now manages approximately $21 billion in total equity commitments.