Carlyle Recruits New Managing Director for European Venture Capital Fund

London, Munich, Paris - The Carlyle Group has recruited a new managing director for its European venture capital fund, Carlyle Europe Venture Partners (CEVP). Wolfgang Hanrieder will focus on increasing the fund's visibility in Germany and other European countries, and on making new investments in the communications technology and material sciences areas. Dr. Hanrieder will join Carlyle managing director Jacques Garaialde as co-head of CEVP. He will be based in Carlyle's offices in London and Munich.

Dr. Hanrieder joins Carlyle from Star Ventures Management, a Munich-based international venture capital firm with $1 billion under management, in which he was a managing partner. During his four and a half years at Star Ventures Dr. Hanrieder oversaw more than 20 deals that were transacted in the IT and medical sectors. Among the companies in which he invested were Omnia and Softcom. These were subsequently sold to Ciena and Intel respectively.

"Carlyle offers a much broader private equity environment to work in," said Dr. Hanrieder. "Carlyle has a strong reputation for capitalising on its global network of relationships to further the development of portfolio companies across borders. I look forward to pursuing the new types of investment opportunities this brings." Dr. Hanrieder is a physicist by background with a Ph.D. from the Technical University of Munich. From 1985 to 1997 he worked for Siemens AG and Siemens-Nixdorf AG. During this period he rose to become director of "Innovations and New Business Opportunities in the Information and Communications Industries" reporting to the Executive Board. In 1996 he moved to Boston where he reported to the company's CEO. "Wolfgang Hanrieder has an outstanding technical and investment background and our team is eager to work with him," said Mr. Garaialde. "CEVP has pursued a sector specific investment strategy for over a year and it is clear to us that this is the only way to ensure that we uncover the best technology deals and that we can contribute to the development of our portfolio companies.

Wolfgang's achievements throughout his career make him perfectly placed to help us build on this strategy and increase our capabilities in the material sciences and communications technology sectors".

Wolfgang Hanrieder was born and educated in Germany. In addition to his M.S. and Ph.D. degrees in physics, he is a Sloan Fellow and holds an Executive MBA from the Massachusetts Institute of Technology. He has filed 15 technology patents over the course of his career.

During the past six months CEVP has expanded its team. Claudio Catania and Bruno Mourgue d'Algue joined as senior associates in September 2001, to focus on the software and communications services sectors respectively. Mr. Catania previously worked for Morgan Stanley Private Equity making investments in the high-tech sector and at Hewlett Packard, for five years, where he was a research and development manager. Mr. Mourgue d'Algue's previous role was an investment manager at Zouk Ventures.

In December 2001, Jamie Reigle and Fernando Chueca were recruited as associates in the communications technology and online financial services sectors respectively. Both previously worked for JP Morgan. On March 1st 2002, Chris Hodges also joined the fund as a senior associate to focus on material sciences investments. He previously invested in start-up companies with venture capital firm, 3i PLC.