Partners Group appoints Cyrus Driver head of Asian private equity
Cyrus Driver has been named head of Asian private equity at Partners Group, replacing Andreas Baumann who has relocated to the US to head up the company’s business in the Americas.
Driver, who joined Partners Group in 2012 to strengthen its direct investment capabilities in India and heads the Mumbai office, will move to Singapore for his new role. The firm is also looking to hire a senior private equity executive for India.
The reshuffle comes as Partners Group adjusts its management structure to support the future growth of the firm. A global executive board has been formed comprising 22 senior managers charged with driving forward the global business and corporate development.
The global executive board will work with the executive committee, previously known as the executive board, which is responsible for day-to-day running of the firm. The 12 members of the global executive board also sit on the executive committee.
Members of the newly-formed board include partners and managing directors from different business lines across the firm's offices in São Paulo, San Francisco, New York, London, Singapore and Sydney, as well as its headquarters in Zug, Switzerland.
Baumann - who spent several years in New York building out Partners Group's private equity business in the Americas before moving to Asia in 2010 - is part of this board and has also been promoted to the executive committee. Asia Pacific-based members of the board include Martin Scott and Kevin Lu, heads of investment solutions for Australia and Asia, respectively.
The global executive board will come into being on January 1, 2015. It is separate to the global investment committee, which oversees all investment recommendations.
"The formation of a global executive board with senior representation from all business lines is a natural next step for our global and growing organization. It is crucial for all regions to have representation at the top level of management and the global executive board ensures this," Peter Wuffli, chairman of Partners Group's board of directors, said in a statement.
Partners Group has more than $40 billion under management in private markets investment programs covering private equity, real estate, infrastructure and debt. It employs over 700 people and has 18 offices globally, including bases in Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney.
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