Yang, who for 10 years has been managing director and co-head of Carlyle Asia Partners, a unit of giant U.S. private-equity fund Carlyle Group.

WSJ: Managing in Asia: Carlyle's Asia Approach: Think Local

Other big names in Reijtenbagh's portfolio: Blackstone Real Estate Partners V and Blackstone Real Estate Partners VI, as well as Carlyle Asia Partners II, Carlyle Asia Growth Partners III and other Carlyle funds focused on Japan and Europe.

FORBES: Private Equity