Richard Hoskins joins The Carlyle Group from Hastings

He is the second former Hastings executive joining the US alternative asset manager.

The former executive from Australian fund manager Hastings, Richard Hoskins, has joined Washington-based The Carlyle Group as managing director. 

Hoskins joined Carlyle this month, according to his updated Linkedin profile. He is expected to work alongside his former Hastings colleague Peter Taylor as Carlyle is reportedly looking to bolster its infrastructure investment capability. 

The two industry veterans have worked together on the $7.5 billion purchase of NSW electricity transmission company TransGrid by Hastings and partners last November, and a number of infrastructure acquisitions. 

Before his departure from Hastings as senior advisor, Hoskins had worked at Hastings for 10 years. In addition, Taylor ended his 15 years of service this January.

Carlyle declined to comment on the appointments of Hoskins and Taylor. 

Taylor’s departure was considered to have raised concerns over the resilience of Hastings’ performance in between the discussions surrounding Westpac’s attempt to offload Hastings. In March, Westpac winded down the sale of Hastings due to “various reasons, including current external market conditions”. 

A wide-ranging reshuffle this February also saw the Australian fund manager making eight internal appointments and one recruitment as it revised the operational structure.