Carlyle Group has appointed Ulrich Schumacher, the founder and chief executive of German semiconductor company Infineon Technologies, as an adviser to its €650m ($700.6m) European venture capital fund.

Wolfgang Hanrieder, a managing director of Carlyle, said Schumacher would devote only a minimal amount of his time to the firm, attending two board meetings a year and making himself available for ad hoc discussions. But Hanrieder said: "The quality of his time will be of great value."