The Carlyle Group is one of the world's largest private equity firms, with more than $87.6 billion under management. With 65 funds across four investment disciplines (buyouts, growth capital, real estate and leveraged finance), Carlyle combines global vision with local insight, relying on a top-flight team of 450+ investment professionals operating out of offices in 19 countries to uncover superior opportunities in North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America.
Carlyle Group to set up Renminbi denominated fund to expand investment reach in China
12th Jan 2010, 10:31 am
Carlyle Group LLC has signed a memorandum of understanding with the Beijing Municipal Bureau of Financial Work to form an Renminbi (RMB) denominated fund in Beijing to invest alongside Carlyle Asia partners and pursue independent investments in larger growth companies.
The Carlyle Asia Partners RMB Fund will be entitled to preferential treatment from the Beijing municipal government, in accordance with its development policies for the city’s finance and equity investment industry.
“Carlyle is committed to long-term, responsible and value-creating investment in China. The Carlyle Asia Partners RMB Fund will help expand our investment capabilities in Beijing and across China, further Carlyle’s strategy of localizing our franchise in China and contribute to the healthy development of the local private equity industry,” said founding partner and managing director of the Carlyle Group Daniel D’Aniello.
The Carlyle Asia Partners RMB Fund will raise RMB-denominated capital and make equity investments in larger growth companies in China.
The private equity group said that China has become one of its most attractive investment destinations in the world owing to the fast growth of its economy. Carlyle has so far invested more than US2.5 billion in more than 40 deals in China.
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