The Carlyle Group Expands Its U.S. Venture and Growth Capital Team

Washington, DC - Global private equity firm The Carlyle Group today announced the addition of three senior professionals to its U.S. Venture and Growth Capital group: Managing Director Stephen W. Bailey from Dell, Inc.; Principal Charles C. Moore from Perseus L.L.C.; and Vice President David Lam from Panasas, Inc.

Robert E. Grady, Managing Director and Head of Carlyle’s Venture and Growth Capital group, said, "This is a significant expansion and strengthening of our North American growth capital team. Steve Bailey has been a well-regarded executive at Dell, one of the world’s leaders in technology, where he ran both Dell Ventures and corporate development. Charlie Moore has been a rising star at Perseus and has experience in smaller buyout transactions, a growing area of focus for us. David Lam brings operational experience in key roles from portfolio company Panasas, as well as from ONI Systems, CIENA and Cisco Systems."

Messrs. Bailey, Moore and Lam join a team of 22 investment professionals based in San Francisco and Washington, DC. Carlyle’s venture group also announced the addition this summer of Senior Associate Robert Hansen, a graduate of the Stanford Graduate School of Business, who comes to Carlyle from Goldman Sachs, Inc., and Brandon Paulsen, who previously served in the technology Mergers and Acquisitions group at Banc of America Securities. Since the final close in 2002 of its second fund, Carlyle Venture Partners II, Carlyle Venture Partners has also added Charles O. Rossotti, a Founder and former Chairman and Chief Executive Officer of American Management Systems, Inc. and former Commissioner of Internal Revenue, and Brian Canann, a former Vice President of Business Development at Medtronic, Inc. These investors join a team that has retained all of the senior investment professionals present at the launch of CVP II.

The U.S. Venture and Growth Capital group manages two funds: Carlyle Venture Partners, L.P., with $254 million in capital commitments, and Carlyle Venture Partners II, L.P., with $602 million in capital commitments. These funds invest in emerging growth companies that specialize in technology, business services and medical devices. The team emphasizes technologies and services deployed in the vertical segments of the global economy in which Carlyle has a significant global presence, including automotive supply; aerospace and defense; transportation and logistics; security; healthcare technology; and telecommunications and media. The funds undertake a mix of early stage, expansion capital and smaller buyout transactions.

Stephen W. Bailey

Stephen Bailey comes to Carlyle from Dell, Inc., where he served as Vice President of Corporate Development and Dell Ventures beginning in 2001. In this position, Mr. Bailey was responsible for the company’s strategic venture investment, merger and acquisition and other business partner relationship activity. He also was a Principal in Dell Ventures from 1999 to 2001, focusing on strategic venture investments and partnerships. In these roles, Mr. Bailey was actively involved in Dell's investments in Altiris (NASDAQ: ATRS); Blackboard (NASDAQ: BBBB); Entercept (acquired by McAfee); Giganet (acquired by Emulex); OSA (acquired by Avocent); Pentasafe (acquired by NetIQ); SiteSmith (acquired by Metromedia Fiber); Topspin (acquired by Cisco); and webMethods (NASDAQ: WEBM). Mr. Bailey also served Dell as Vice President of Finance in the Americas Business Group. In this role, he managed strategic and financial planning, accounting, reporting and business controls for Dell’s largest region.

Before joining Dell in August 1999, Mr. Bailey was a Principal with ABS Capital Partners, a private equity firm, and he held positions in 3Com Corporation’s Business Development Group and in the investment banking division of Alex. Brown Incorporated.

Mr. Bailey earned his M.B.A. from the Stanford University Graduate School of Business and his A.B. from Harvard College.

Charles C. Moore

Charles Moore comes to Carlyle from Perseus L.L.C., a private equity firm he joined in 2001, where he served as Managing Director, and focused on leveraged buyout and growth capital investments in a variety of industries. While at Perseus, Mr. Moore was a Director of Workflow Management, Inc. and an Adviser to Cardiac Science, Inc. (NASDAQ: DFIB). Prior to that, Mr. Moore practiced law at the firm of Williams & Connolly from 1998 to 2000 and served as a law clerk to U.S. Supreme Justice Stephen G. Breyer during the Court’s 1997-98 term.

Mr. Moore earned his J.D. with distinction from Stanford Law School, where he was a Nathan Abbott Scholar. He earned his Masters in history from Oxford University and his A.B. in politics, magna cum laude, from Princeton University.

David Lam

David Lam comes to Carlyle from Panasas, Inc., a network storage startup based in Fremont, CA, where he served as Director of Business Development. In this position, Mr. Lam was responsible for marketing, finance and operations as the company developed and launched its first products. Prior to joining Panasas in 2003, Mr. Lam served as a Senior Manager at CIENA Corp., were he was involved in the CIENA-ONI merger. Before joining CIENA in 2000, Mr. Lam worked at Cisco Systems and Robertson Stephens and Company.

Mr. Lam earned his M.B.A. from the Massachusetts Institute of Technology, where he received the Patrick J. McGovern Entrepreneurship Award. He earned his M.A. in organizational sociology and his B.S. in industrial engineering from Stanford University.

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