Jin Park was named co-head of the hedge funds group at The Carlyle Group. He was a portfolio manager and senior investment officer of alternatives at the World Bank. Carlyle hopes to name the second head of its hedge funds group soon, said Afsaneh Mashayekhi Beschloss, managing director and partner.
Also, The Carlyle Group hopes to raise more than $1 billion from institutional investors this fall to start a new hedge fund, a private equity fund and an incubator fund that will invest in emerging markets, said Ms. Beschloss. The Carlyle Group hopes to raise about $500 million each from both pension funds and other large investors for a multistrategy fund of funds and a secondary private equity fund. The size of a new fund, investing with emerging managers running hedge funds, private equity, venture capital and possibly currency overlays, has not been determined, Ms. Beschloss said.