Buyout firm Providence taps ex-Star TV exec
HONG KONG, April 4 (Reuters) - U.S. buyout firm Providence Equity Partners Inc., which specialises in the media and information industry, said it has hired Michelle Guthrie, the former chief executive of News Corp.'s NWS.N Star satellite TV arm, as a managing director for Asia-Pacific.
In January, Rhode Island-based Providence joined a phalanx of global private equity firms building an Asia presence, with the opening of offices in Hong Kong and New Delhi and the hiring of Rothschild's [ROT.UL] top banker in the region, Andrew Rickards, as managing director for Asia.
A 12-year veteran of the pay TV industry, Guthrie joined Rupert Murdoch's Hong Kong-based Star in 2000, becoming chief executive in 2003.
In February, Providence closed a new $12 billion equity fund, and the firm now manages about $21 billion in equity commitments.
Industry-wide Asian private equity funds under management rose by 30 percent to $158 billion last year, with new funds raised for the region up by 35 percent to $32 billion, according to the Asian Venture Capital Journal.
