Global firm appoints new local head
28 Oct 2022 - People moves
The Carlyle Group (NASDAQ: CG) has appointed Geoff Hutchinson, from New Zealand-based infrastructure fund manager Morrison & Co, as its new head of private equity for Australia and New Zealand.
Hutchinson was Morrison’s co-head for Australia and New Zealand. At Carlyle, Hutchinson, who has joined as a managing director, takes over from partner David Bluff, who retired from the firm after 14 years earlier this year.
Prior to joining Morrison, Hutchinson spent almost 14 years with Pacific Equity Partners (PEP), leaving to join Morrison last year. While at PEP, Hutchinson led private equity deals across the consumer, healthcare, education and business services sectors. During that time, he served on the boards of companies including Veda, Spotless, ACG Education, UP Education and Life Healthcare.
Hutchinson will be based in Carlyle’s Sydney office.
Announcing Hutchinson’s recruitment, Carlyle said it “underscored Carlyle’s strong commitment to Australia and New Zealand as key markets in the Asia Pacific region”.
Chairman of Carlyle Asia, X.D. Yang, said he expected Hutchison to play an important role in “further strengthening” the firm’s investment and advisory platform and steering continuing growth in Australia and New Zealand. He said the two countries continued to be important markets for Carlyle and the firm saw attractive opportunities to invest in what it considered to be high-quality businesses.
Carlyle had a track record of over 20 years in Australasia, he said, and had completed notable transactions such as Healthscope, Coates Hire, Qube Logistics, iNova Pharmaceuticals and Accolade Wines.
Prior to his private investment career, Hutchinson worked for global corporate advisory firm Bain & Company for 10 years, in Sydney, London and Johannesburg, and advised companies across the fast-moving consumer goods (FMCG), retail, industrials and telecommunications sectors.
As of the end of the 2022 financial year, Carlyle had invested more than $US1.7 billion ($2.62 billion) in six private equity transactions in Australia and New Zealand. Over the entire Asia Pacific region, including those deals, Carlyle has invested more than $US24 billion in 200 transactions.
Image: Geoff Hutchinson.