The Carlyle Group Appoints Patrick Siewert and Herman Chang as Senior Directors to Help Build Stronger Asian Companies

Hong Kong - Global private equity firm The Carlyle Group today announced it has appointed Patrick Siewert and Herman Chang as Senior Directors. Based in Hong Kong, Mr. Siewert will spearhead Carlyle’s investments in consumer-related businesses across Asia. Mr. Chang is based in Shanghai and will focus on industrial companies. They have both begun their duties.

Mr. Siewert and Mr. Chang bring to Carlyle extensive business-building and senior management experience in Asia. Mr. Siewert has led a successful career in the region for two multinationals, Coca-Cola and Eastman Kodak, while Mr. Chang had significant achievements in helping Delphi to develop its business in Asia and China. Their insight and network in consumer-related business and industrial companies in Asia and globally will be important additions to Carlyle’s growing portfolio of companies and new investment activities.

Mr. Siewert said, "Carlyle has an impressive global platform and a distinct focus on value creation for its portfolio companies around the world. Asia is the most exciting place in the world for the development of consumer-related business. I am very pleased about this opportunity to leverage Carlyle’s global resources and network as well as my 10 years’ experience in Asia to help source new investment opportunities and build stronger Asian consumer companies."

X.D. Yang, Managing Director and Co-head of Carlyle Asia Partners, said, "Patrick is a proven and highly respected senior executive in the Asian business community. His global perspectives on industry trends, strong leadership skills and in-depth knowledge of Asian consumer businesses will provide us greater insights in our investment activities and significantly strengthen our ability to add value to our portfolio companies.

"Bringing in proven senior executives with strong Asian operating experience and global perspective has been a key component of Carlyle’s investment strategy in Asia. In addition to Patrick, we are pleased to have Herman on board as Senior Director focusing on industrial companies. Herman is one of the most experienced managers in building businesses in China for multinational industrial companies. He joined with more than 20 years of senior management experience at General Motors and Delphi in the U.S. and Asia."

Mr. Siewert joined Carlyle from The Coca-Cola Company where he held senior positions including President and Chief Operating Officer for East, South Asia & Pacific Rim. During his tenure at Coca-Cola between 2001 and 2007, he was responsible for the company’s business and operations in 33 countries with more than 10,000 employees. He was a member of The Coca-Cola Company Executive Committee and reported directly to the Chairman and Chief Executive Officer. Prior to Coca-Cola, he spent more than 20 years at The Eastman Kodak Company and was Chairman of Greater China between 1994 and 1997.

Mr. Chang was one of the top managers at Delphi in Asia, the leading international auto components company and had held a number of senior positions including President of Delphi China and Managing Director of its Asia Pacific operations and a global product business unit. He led a 20-year career at General Motors and Delphi, of which 10 years were in Asia and China.

Carlyle Asia Partners (CAP), established in 1998, is one of first and most active private equity investors in Asia. With a total of US$2.55 billion under management, CAP manages two funds, Carlyle Asia Partners I (US$750 million) and Carlyle Asia Partners II (US$1.8 billion), and makes large control and strategic minority investments throughout non-Japan Asia. It has invested in 13 companies to date. CAP has 30 investment professionals based in five offices in Australia, China, Hong Kong, India, and Korea.
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