The Carlyle Group, of which giant US pension fund CalPERS is a shareholder, has appointed former British Prime Minister John Major as chairman of its European operations.
Major will serve as chairman of the private equity firm’s funds and its advisory boards. Major will also provide counsel and advice to the senior Carlyle investment staff in Barcelona, Frankfurt, London, Madrid, Milan, Munich and Paris.
As part of his activities, Major will serve on the boards of directors of several of the companies in which Carlyle's European private equity teams make investments. Additionally Major will serve on Carlyle's Asia Advisory Board.
The California Public Employees' Retirement System (CalPERS) holds a minority stake in Carlyle. Earlier in the year, the fund bought a $425m stake in the Washington DC based private equity firm. CalPERS investment consisted of two elements, a $250m investment in various new Carlyle private equity funds and a $175m investment for a minority equity stake in the firm.
The Carlyle Group is the world's largest global private equity investment firm, managing more than $13bn of equity capital. The firm operates 15 private equity funds in the United States, Europe, Asia and Japan.
By Geoffrey Ho
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