The Carlyle Group to Invest in Japanese Real Estate; New Team Joins Established Asia Real Estate Operation

Tokyo, Japan – Global private equity firm The Carlyle Group announced today that it has established a team to conduct real estate investments in Japan. The team is based in Tokyo and consists of Managing Director Rio Minami and Vice President Satoru Hayashi, both of whom come to Carlyle from Starwood Capital Japan. These professionals join Carlyle’s Asia Real Estate team, which was established in 2002 to explore and make real estate investments in Asia, with a focus on North Asia. Also joining the Asia Real Estate team as an Associate is Derek Lai, who comes from Deutsche Bank and will be based in Hong Kong.

Jason Lee, Managing Director of Carlyle Asia Real Estate, said, “While known around the world for its buyout and venture activities, Carlyle also has a significant and highly profitable real estate investment operation, particularly in North America and Europe. We believe Asia in general and Japan in particular can be similarly successful. We have spent several years getting to know the North Asia real estate market and have made several promising investments in Korea. Timing is very important for us, and we want to capitalize on the fact that the real estate market in Japan is at an attractive stage in the cycle.”

Mr. Lee added, “Carlyle relies on local market deal teams with a strong knowledge of local and global capital markets. With Minami-san and Hayashi-san on our team, we are off to a running start on making successful real estate investments in Japan.”

Mr. Minami said, “We will differentiate ourselves from other real estate funds in Japan by working closely with our Hong Kong team, which covers all of North Asia, and by collaborating with our Tokyo buyout team on corporate transactions.”

Select Asia Real Estate Portfolio:

• Century Tower: Seoul, Korea – 298,000 square foot, 20-story office building
• Pacific Tower: Seoul, Korea – 312,000 square foot, 20-story office building

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