People Digest: Ex-Warburg MD joins Centurium; Carstairs is co-CEO at Varde

Ilfryn Carstairs

In a recent executives moves in the private equity sector,  Shanghai-based Centurium Capital has appointed Michael Chen, a former Warburg Pincus executive, as its managing director while Ilfryn Carstairs has been appointed as co-CEO at Värde Partners.

Former Warburg Pincus managing director joins Centurium Capital

Michael Chen, a former Warburg Pincus MD, has joined Shanghai-based private equity firm Centurium Capital as managing director, according to a statement.

In his new role, Chen will work closely with Centurium Capital CEO and chairman David Li, helping to manage the firm’s investments.

Chen, who joined Centurium Capital in June this year, previously led Warburg’s consumer investments as its managing director in China over seven years. At Warburg, he led a number of investments into leading Chinese companies in transportation and mobility, retail, logistics, and education industries.

He was previously vice-president at Crescent Point, a pan-Asia growth capital fund. He has also served at Morgan Stanley in Hong Kong, and global consulting firm Accenture in China, and Citibank.

He received a BA of Economics from Fudan University and an MBA from INSEAD.

Ilfryn Carstairs appointed as co-CEO at Värde Partners   

Värde Partners, a leading global alternative investment firm, on Tuesday, announced that Ilfryn Carstairs will join George Hicks, co-founder and chief executive officer, as co-CEO, effective January 1, 2020. Hicks co-founded Värde Partners 25 years ago and intends to transition to an executive chair role in 2022. Carstairs will retain his role as global CIO.

Carstairs, who has been based in Singapore since 2017, joined the firm in 2006 in London and helped in building Värde’s team and business in Europe and in Asia. Prior to accepting the role as co-CIO in 2017, he served as co-head of corporate and traded credit, managing Värde’s liquid investing activities globally.

He received a bachelor’s degree from the University of Queensland, Australia, and an MBA from INSEAD in France.

Värde was co-founded Hicks, Marcia Page (currently serves as an executive chair) and Gregg McMillan (who retired 2008) in 1993. The firm has since invested more than $60 billion in a diverse set of strategies around the world.