Carlyle Asia’s partner and managing director Patrick Siewert will be retiring from his role after 16 years at the private equity giant, a spokesperson for the company said on Wednesday.
Based in Hong Kong, Siewert has advised and worked with Carlyle’s consumer, media, and retail portfolio companies in the Asia buyout team.
“Patrick will be moving into a senior advisor role at Carlyle Asia and will continue to advise on the consumer industry sector for the firm,” the spokesperson told DealStreetAsia in an email response, confirming the move.
Prior to joining the private equity giant, Siewert served as group president at the Coca-Cola Company’s Asia division. He also currently sits on the board of Mondelez International, an American multinational confectionery, food, holding, beverage and snack food company; and global materials science and manufacturing company Avery Dennison.
Carlyle recently closed its latest Asia buyout fund at $950 million, which was initially understood to have been seeking a target of $1 billion.
It has also been raising its biggest global fund to date with a targeted corpus of $22 billion. However, the firm has been pushing back deadlines for its close and struggling to raise amid a global slump in dealmaking and fundraising, the Financial Times reported late last year.
In February, Carlyle hired ex-Goldman Sachs president Harvey Schwartz as the group’s CEO to succeed Kewsong Lee, who resigned last August after his contract with the group was not renewed.
