In a major executive-level rejig, global private equity firm The Carlyle Group has promoted Manoj K Dengla to the position of a director in its Asia-focused buyout fund. Dengla, who was earlier the vice president of the fund based out of Carlyle’s Mumbai office, will continue in the same location.
Carlyle has promoted a total of 33 professionals to senior positions globally including seven posts of managing director and 26 principal/director, said the company in a statement. In Asia, it has promoted two professionals to the position of managing director and five at the director level. Anand Balasubrahmanyan and Alex Ying have been promoted to MD – Asia Buyout, at Singapore and Hong Kong office respectively. Apart from Dengla in director-level changes, the other four are at its Hong Kong office.
Prior to joining Carlyle in 2005, Dengla was an associate at Goldman Sachs in the Special Situations Group in New York focusing on investments in renewable energy and industrial utilities. He also worked in the Structured Finance and Leveraged Finance Groups with ICICI Bank and in the Corporate Finance Group with Unilever, both in India.
Carlyle has 65 individual funds in five investment disciplines: buyout, distressed and corporate opportunities, leveraged finance, growth capital and real estate. In June 2009, it closed its fourth Asian growth capital fund, Carlyle Asia Growth Partners IV (CAGP IV), at $1.04 billion. It plans to invest around 80% of the fund in high growth private companies across the sectors in India and China.
Carlyle Asia Buyout manages approximately $6 billion across three funds. In India it has invested $650mn in HDFC.