Kewsong Lee

Kewsong Lee
Kewsong Lee
Kewsong Lee
Born	12 08, 1965
Birthplace	Albany, New York, U.S.
Nationality	American
Occupation	Businessman, investor
Title	Founder and CEO, BellTower Partners
Known for	Former CEO of The Carlyle Group; Vice Chair of the United Soccer League
Education	Harvard University (AB, MBA)

Kewsong Lee (born August 12, 1965) is an American businessman, investor, and the founder and chief executive officer of BellTower Partners, a private investment firm he established in 2023. He is best known for his tenure as chief executive officer of The Carlyle Group, one of the world's largest private equity firms, a position he held from 2018 to 2022. Lee began his career in private equity at Warburg Pincus in 1992 and spent more than two decades there before joining Carlyle in 2013. Born in Albany, New York, and educated at Harvard University, Lee has built a career spanning more than three decades in global finance, overseeing billions of dollars in investments across multiple asset classes. In September 2025, BellTower Partners made a strategic growth investment in the United Soccer League (USL), and Lee was named vice chair of the organization's board. Beyond finance, Lee has been active in the arts and nonprofit sectors, serving as chair of the board of directors of Lincoln Center Theater, where the artistic director position was named in his honor in 2025. He also serves on the board of trustees of the Center for Strategic and International Studies (CSIS).

Early Life

Kewsong Lee was born on August 12, 1965, in Albany, New York. He is of Korean descent. Lee grew up in the Albany area and has maintained ties to his hometown throughout his career. In 2025, his connection to Albany became a focus of public attention when he emerged as a central figure behind a proposal to bring a professional soccer stadium to downtown Albany, a project linked to his investment in the United Soccer League.

Lee attended Choate Rosemary Hall, a private preparatory school in Wallingford, Connecticut. His time at Choate helped prepare him for admission to Harvard University, where he would pursue both his undergraduate and graduate studies.

Education

Lee enrolled at Harvard University, where he earned his Bachelor of Arts degree in 1986. He subsequently returned to Harvard to attend Harvard Business School, where he earned his Master of Business Administration degree in 1990. Lee has remained connected to Harvard as an alumnus. In 2016, the dining hall at Lowell House, one of Harvard's residential houses, was renamed in recognition of a significant donation associated with Lee.

Career

Warburg Pincus (1992–2013)

After completing his MBA at Harvard Business School in 1990, Lee entered the private equity industry. He joined Warburg Pincus, one of the oldest and most established private equity firms in the United States, in 1992. Lee spent more than two decades at Warburg Pincus, rising through the ranks of the firm. During his tenure, he gained extensive experience in deal-making and portfolio management across a range of sectors and geographies. His long career at a single firm was notable in an industry where professionals frequently move between organizations. By the time of his departure in 2013, Lee had established a reputation as a skilled dealmaker within the private equity community.

The Carlyle Group (2013–2022)

Joining Carlyle

In November 2013, The Carlyle Group announced the hiring of Lee to lead its corporate private equity operations. The move was reported by Reuters and The Wall Street Journal as a significant appointment for the firm, which was seeking to strengthen its investment capabilities and prepare for a leadership transition. Lee's arrival at Carlyle brought more than two decades of private equity experience from Warburg Pincus, and he was tasked with overseeing the firm's largest and most important business segment.

At Carlyle, Lee quickly took on a central role in the firm's investment operations. He was involved in key strategic decisions and worked to expand the firm's deal pipeline across global markets. His expertise in managing complex transactions and his track record at Warburg Pincus made him a natural candidate for an expanded leadership role at Carlyle.

In 2016, Lee was involved in expanding Carlyle's debt investing operations, as the firm hired a pension fund executive to head its credit business, a move that reflected the firm's strategy under Lee's influence to diversify beyond traditional buyout funds.

Co-CEO Appointment

In October 2017, The Carlyle Group announced that Lee and Glenn Youngkin would become co-chief executive officers, succeeding the firm's co-founders David Rubenstein and Bill Conway. The transition represented a generational shift at one of the world's largest alternative asset management firms. The Wall Street Journal characterized Lee as "a deal whiz" and Youngkin as "a homegrown quarterback," reflecting their complementary skill sets. The Financial Times also covered the appointment as a major event in the private equity industry.

The appointment formally took effect in January 2018. Lee and Youngkin divided responsibilities, with Lee focusing on the firm's investment activities and strategy while Youngkin handled operations and firm culture. The co-CEO arrangement was common among large alternative asset firms and was intended to provide continuity while the founders stepped back from day-to-day management.

Corporate Structure Changes

Under the leadership of Lee and Youngkin, Carlyle undertook a significant corporate restructuring. In 2019, the firm announced it would abandon its partnership structure and eliminate its dual-class share structure, converting to a corporation. This was a major move in the alternative asset management industry, as several large firms had historically maintained partnership structures that gave founders and insiders greater control. The Wall Street Journal reported on the decision as part of a broader trend among publicly traded private equity firms seeking to attract a wider base of institutional investors by simplifying their corporate governance.

Sole CEO

In September 2020, Glenn Youngkin departed The Carlyle Group to pursue other interests, which would ultimately include a successful campaign for Governor of Virginia. With Youngkin's departure, Lee became the sole chief executive officer of the firm. As sole CEO, Lee oversaw Carlyle during a period of significant market volatility driven by the COVID-19 pandemic and its economic aftermath.

In April 2021, The Wall Street Journal profiled Lee's efforts to chart a rebound for Carlyle, describing his plans to strengthen the firm's competitive position and expand its assets under management. Lee articulated a vision for growing the firm's credit and insurance solutions businesses alongside its traditional buyout operations.

Departure

In 2022, Lee departed The Carlyle Group. The Financial Times reported on the circumstances of his exit, which came amid discussions about the firm's strategic direction and Lee's compensation and contract renewal. His departure marked the end of a nine-year tenure at the firm, during which he rose from a senior investment executive to the firm's top leadership position.

BellTower Partners (2023–present)

In 2023, Lee founded BellTower Partners, a private investment firm. The firm focuses on strategic investments across multiple sectors. Lee serves as the firm's founder and CEO.

In September 2025, BellTower Partners made a strategic growth investment in the United Soccer League (USL), the largest professional soccer organization in the United States by number of clubs. As part of the investment, Lee was named vice chair of the USL's board of directors. Bloomberg reported on the deal, noting that the investment came as the USL was planning to launch a Division One professional league. SportsPro described the transaction as the sale of a minority stake and noted the USL's plans to expand to Division One status.

The investment also connected to Lee's hometown of Albany, New York. The Business Journals and the Times Union reported that Lee was backing a proposal for a professional soccer stadium in downtown Albany, a project linked to his involvement with the USL. The Times Union described Lee as "a major player in the plan to bring soccer to Albany," noting his status as an Albany native and former CEO of The Carlyle Group.

Personal Life

Lee was born and raised in Albany, New York, and has maintained connections to the area throughout his career. He is of Korean heritage.

Lee is active in philanthropic and cultural organizations. He serves as chair of the board of directors of Lincoln Center Theater (LCT) in New York City. In July 2025, Broadway News reported that the artistic director position at Lincoln Center Theater, held by Lear deBessonet, was renamed the "Kewsong Lee Artistic Director" in recognition of Lee's role as a major donor and board chair. A Playbill job listing in 2025 referenced the "Kewsong Lee Artistic Director" title, further confirming the naming.

Lee also serves on the board of trustees of the Center for Strategic and International Studies (CSIS), a bipartisan policy research organization based in Washington, D.C.

His philanthropic activities at Harvard University are reflected in the renaming of the Lowell House dining hall, which was associated with a significant gift from Lee.

Recognition

Lee's career in private equity has been the subject of extensive coverage in major financial publications, including The Wall Street Journal, the Financial Times, Bloomberg, and Reuters. His appointment as co-CEO of The Carlyle Group in 2017 was widely covered as a milestone leadership transition at one of the world's largest alternative asset management firms.

His profile in The Korea Times noted his prominence as a Korean American executive in the global finance industry.

The naming of the artistic director position at Lincoln Center Theater in his honor in 2025 recognized his contributions to the arts as a donor and board leader.

Lee's appointment as vice chair of the United Soccer League in 2025 was covered by Bloomberg, SportsPro, Private Equity Insights, The Business Journals, and the Times Union, reflecting the public interest in his post-Carlyle activities and his role in the growth of professional soccer in the United States.