News Release

Afsaneh Beschloss to Join The Carlyle Group: World Bank Executive to Head Firm's New Asset Management Group

2001-03

Washington, DC - Afsaneh Masheyekhi Beschloss, currently treasurer and chief investment officer of the World Bank, will join The Carlyle Group next month as a managing director and partner. Beschloss will join the firm May 1 and direct the newly formed Carlyle Asset Management Group, which will be based in Washington, D.C., and New York.


"Afsaneh Masheyekhi Beschloss is an extraordinary leader in finance, with a global reputation for her investment acumen and management skills," Carlyle chairman Frank Carlucci said. "We are very fortunate to have Mrs. Beschloss join us, and we are confident that she will build Carlyle Asset Management into a world-class investment organization."


In her current World Bank position, Beschloss is responsible for investment strategy and for the investment of the Bank's $65 billion of assets. In addition, she directs the Bank's $30 billion funding strategy and operations; manages the asset liability of its balance sheet; and provides financial technical assistance to member countries, central banks, and social security organizations on financial issues.


Previously, Beschloss was manager of the Bank's derivatives and structured products area, portfolio manager for its fixed income portfolio, manager for energy and infrastructure projects, and founder of the natural gas development division. Beschloss has worked for J.P. Morgan in corporate finance in London and New York and for Shell International Group Planning in London. She has also taught international trade and economics development at Oxford University, and holds an M. Phil (Honors) in economics.