Carlyle promotes Asia real estate professionals

Washington D.C. based Carlyle Group promotes three people to managing director level within its Asia real estate team, but says the promotions are not part of a strategy to increase the pace of its investment programme on the continent.

The Caryle Group has promoted three of its real estate executives to managing director level as part of its annual raft of promotions. This year, Carlyle promoted 24 members of staff to senior positions across its businesses. But the firm warned that the promotions were not a signal that it would increase the pace of its real estate investments.

The firm promoted: Han Chen, a former general manager of Merrill Lynch subsidiary Global Servicing Solutions, in its Shanghai office; Satoru Hayashi, a former associate at Starwood Capital Japan, in its Japan office; and James Kimn, who previously worked as an associate at Remy Capital Partners, in its Hong Kong office. Chen, Hayashi and James focus on sourcing investment opportunities in their respective markets and they report to Jason Lee, Carlyle’s head of real estate for Asia.

A spokeswoman told PERE that the promotions were made because of the trio’s “consistently high performances” but added it was not an indication that the firm would step up its investment programme in the area. She said: “We maintain the same conservativism and investment discipline and roughly the same level of staffing now as we did a year ago.”

“The conclusion we can draw from this is that we are deepening our talent investment in Asia. While we are more cautious towards our investing and have, if anything, slowed our strategy. We are still actively looking for good deals and are spending a lot of time helping our portfolio companies grow.”

Carlyle promoted six of its staff to managing director level in total and 18 to director level.