New partners for The Carlyle Group

Mar 20, 2001

The Carlyle Group adds two new partners to its Asian private equity fund, Carlyle Asia Partners.

X.D. Yang and Eugene Lai will join Carlyle Asia Partners as managing directors. Lai will be based in Singapore.

Yang, who was previously managing director and co-head of private equity for Asia (ex-Japan) for Goldman Sachs, will be co-head of Carlyle Asia and will be based in Hong Kong.

Commenting on the Yang's appointment, David Rubenstein, a co-founder of Carlyle says: "X.D. Yang is one of the most experienced private equity investors in Asia, having led several of Asia's significant private equity investments. His focus on large investments in industry leaders in telecommunications and financial services fits perfectly with our investment philosophy."

Lai, formerly managing director at Salomon Smith Barney, will be based in Singapore.

"Eugene Lai is recognized as one of the leading deal-makers in the region," says Rubenstein.