Fundraising

Carlyle launches into Australia

The global private equity firm has recruited Simon Moore from Investcorp to spearhead its push into Australia from a new Sydney office.

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The Carlyle Group, the Washington DC-based private equity firm, has established a new office in Sydney headed by Simon Moore, who becomes managing director and head of the Australia buyout team.

Moore, an Australian national, joins from Bahrain-based international buyout group Investcorp, which he joined in 2001 and where he became a managing director and member of the investment committee. Prior to that, he had a spell as vice president and then partner at JPMorgan Capital, where he worked in New York and Hong Kong between 1996 and 2000.

Moore will take up his new position at Carlyle next month and will be joined in Sydney by existing Carlyle investment professionals Adrian Siew (vice president) and Harold Ong (associate).  
 

Australia has been one of the most active private equity markets in Asia

XD Yang, co-head Asia Buyout Group, The Carlyle Group  

The Australia buyout team will become part of Carlyle’s Asia Buyout Group, which is co-headed by XD Yang and Greg Zeluck, and whose 20-strong team invests a $750 million (€610 million) fund out of existing offices in Beijing, Hong Kong, Mumbai, Seoul, Shanghai and Singapore.

XD Yang said in a statement: “Australia has been one of the most active private equity markets in Asia. The establishment of our Australia office and a strong local team reflects our commitment and optimism about opportunities in Australia.”

The Australian buyout market, which has generated strong returns in recent years, has become increasingly competitive as a result. While domestic groups such as CHAMP Private Equity and Pacific Equity Partners have been investing in the market for many years, international groups are now also taking it seriously. CVC Asia and Affinity Equity Partners have a presence in the country, whilst JPMorgan Partners Asia – which closed a new $1.6 billion fund last week – recently announced the launch of a new Melbourne office.