2002-003

Carlyle Asset Management Group Forms Secondary Private Equity Group; Names Five Key Officials to Run Group

Washington, DC -- Afsaneh Mashayekhi Beschloss, Chief Executive Officer and Chief Investment Officer of Carlyle Asset Management Group (CAMG), announced today the formation and addition of a Secondary Private Equity group to CAMG’s existing Alternative Investments Team and Research Team. The new group comprises five professionals: Jeffrey Moelis; Sudhir Krishnamurthi, DBA; Ted Hobart; David Kupperman, PhD; and Eric Edell. CAMG established its asset management business in late 2001.


Mrs. Mashayekhi Beschloss said, “We are extremely fortunate to have such a seasoned group of professionals aboard the CAMG team. These individuals have significant and diverse private equity experience, including principal and secondary investing, structured transactions, and as limited partners in fund of funds. The market is at a unique stage in the investment cycle, and it is certainly an opportune time to be involved in the secondary private equity market. CAMG is well-positioned to deliver the highest quality services to investors interested in this market.” Jeffrey Moelis, Managing Director. Prior to joining CAMG, Mr. Moelis was a Principal with Paul Capital Partners, a leading secondary investment firm located in San Francisco. During his six years at Paul Capital, he participated in the analysis, due diligence, documentation, execution, and monitoring of secondary investments. Prior to Paul Capital, Mr. Moelis spent several years in a non-profit real estate development firm. He began his career as an investment banker at Drexel Burnham Lambert, and then at Bloom & Company where he raised equity and debt for middle market companies. Mr. Moelis holds an MBA from the Haas School of Business at the University of California, Berkeley and a BS in Finance from the University of Massachusetts, Amherst, and he is a Chartered Financial Analyst.


Sudhir Krishnamurthi, DBA, Managing Director: Dr. Krishnamurthi joined CAMG in April 2002. He was the former Director of The World Bank Investment Management Department where he was responsible for the Bank’s investment portfolio including $12 billion in pension assets. The World Bank’s pension portfolio contained $3 billion in commitments to more than 80 leading managers in the private equity, real estate, hedge fund, and secondary private equity markets. Dr. Krishnamurthi was also the Director of Corporate Finance at The World Bank, where he managed $27 billion of equity for The World Bank Group. Prior to that, he was a Principal in the Bank’s Derivatives Division where he structured a liquidity facility for structured products. Dr. Krishnamurthi earned his doctorate degree from Harvard Business School and taught at MIT’s Sloan School of Management.


Ted Hobart, Principal. Prior to joining CAMG in December 2001, Mr. Hobart was a Partner with 4C Ventures, an early stage technology venture firm focused on the global development and application of technology and telecommunications companies. At 4C, Mr. Hobart was responsible for sourcing, analyzing, executing and monitoring numerous venture investment initiatives in the U.S. and Europe, and he served on the board of four portfolio companies. Prior to 4C, Mr. Hobart was a Principal at Paul Capital Partners, a leading secondary private equity investor, where he led the acquisition of limited partnership interests in private equity funds in addition to several large direct investment portfolios in the U.S. and Europe. Mr. Hobart holds a BA in Economics from Williams College and an MBA from Stanford University.


David Kupperman, PhD, Vice President. Prior to joining CAMG in January 2002, Dr. Kupperman was a Vice President in the Private Equity Group at Goldman, Sachs & Co. In that role, he was responsible for risk management and performance analysis on various private equity products. He was involved in secondary private equity transactions and manager selections for the private equity fund of funds effort. He also worked on research and modeling new products. Before joining the Private Equity group, Dr. Kupperman was a member of the Private Client Research and Strategy group at Goldman Sachs, where he advised high net-worth clients. Prior to joining Goldman Sachs, Dr. Kupperman was a Senior Staff Physicist in the Space Research Division at the Applied Physics Laboratory. Dr. Kupperman holds a PhD in Physics from The John Hopkins University and a ME in Applied Physics and a BA in Physics and Astrophysics from Cornell University.


Eric Edell, Senior Associate. Prior to joining Carlyle in April 2002, Mr. Edell was an Associate at Spectrum Equity Investors, a communications and media focused private equity firm. At Spectrum, Mr. Edell was responsible for sourcing and analyzing new investment opportunities. Prior to Spectrum, Mr. Edell was an Analyst at Goldman Sachs' Private Equity Group where he worked on a wide range of alternative investment products. His principal responsibilities included working on the development and investing of the group's secondary investment fund. Mr. Edell was also actively involved in both direct private equity investments and manager selections for the private equity fund of funds effort. Mr. Edell earned a BA from the University of Pennsylvania, where he graduated Summa Cum Laude and Phi Beta Kappa.


The Secondary Private Equity group joins CAMG’s Alternative Investment Team and Research Team, which include Managing Director Jin Park, former alternative investments manager at The World Bank, and Managing Director Robert Picard, former Managing Director at RBC Capital Risk Advisors.