Carlyle names Sunil Kaul as head of S-E Asia buyout team

HONG KONG • The Carlyle Group said it had appointed Mr Sunil Kaul as head of its South-east Asia buyout team, two days after the private equity firm fired its former Indonesia head, Mr Rajiv Louis.

Mr Kaul, who joined Carlyle in August 2008 and has advised on investments across Asia, will continue to be based in Singapore, the company said in a statement yesterday.

Carlyle created the role for Mr Kaul to look after its deals in South-east Asia, and he will take over duties previously performed by Mr Louis, said Beijing-based spokesman Brian Zhou.

The United States-based firm fired Mr Louis on Wednesday, soon after the Monetary Authority of Singapore (MAS) announced it had sanctioned him for insider trading in the shares of Bank Danamon Indonesia, according to a person with direct knowledge of the matter.

MAS said the trades took place in 2012, while Mr Louis was an investment banker at UBS Group.

He left UBS later that year, and joined Carlyle in 2013 as a managing director of its Asian buyout team, responsible for investments in Indonesia. He became Carlyle's first Indonesia-based deal-maker when the company opened a Jakarta office last year.

Mr Louis agreed to pay a civil penalty of $434,912 without court action, the MAS statement said. It said he bought Danamon shares on March 30, 2012, through his wife's bank account in Singapore, after obtaining non-public information about the proposed acquisition of Danamon by DBS Group Holdings.

After DBS announced its bid for Danamon in April 2012, he made a profit of $173,965 on his trades, MAS added.

Carlyle has eight investment professionals dedicated to South-east Asia, with offices in Singapore and Jakarta. It had invested about US$15.4 billion (S$21.2 billion) in equity deals in the Asia-Pacific as of June 30.

Before joining Carlyle, Mr Kaul was president of Citibank Japan, part of Citigroup. He was also head of retail banking for Citibank in the Asia-Pacific.

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A version of this article appeared in the print edition of The Straits Times on October 17, 2015, with the headline 'Carlyle names Sunil Kaul as head of S-E Asia buyout team'. Print Edition | Subscribe