Xiao-Bing Bai is a Vice President with Asia Buyout, focusing on buyouts, privatizations and strategic minority investments throughout Greater China across various sectors such as industrial, consumer, retail, healthcare, and financial services. Mr. Bai is based in Hong Kong.

Mr. Bai first joined Carlyle in 2005 and returned in 2008 after completing his MBA. Mr. Bai has been actively involved with Carlyle’s investment in current portfolio companies Chongqing Polycomp International Corporation, China’s second largest fiberglass company, and Guangdong Yashili Group Co., Ltd., China’s third largest infant formula company. Mr. Bai was also a member of the transaction team that executed Carlyle’s investment in China Pacific Insurance (Group) Co., Ltd., China’s third largest insurance company.

Prior to joining Carlyle, Mr. Bai was with Morgan Stanley in the Mergers, Acquisitions & Restructuring Division in Hong Kong, and A.T. Kearney at Business Consulting Division in Beijing.

Mr. Bai received an M.B.A. with distinction from Harvard University, an M.S. in management from University of Oxford, and a B.A. in economics from Fudan University.

Mr. Bai is on the Board of Supervisors of Chongqing Polycomp International Corporation and an observer on the Board of Directors of Guangdong Yashili Group Co., Ltd.