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Carlyle Asia Partners raises USD2.55bn for third Asian fund

Private equity firm The Carlyle Group has closed its Carlyle Asia Partners III fund at USD2.55bn, which is more than 40 per cent larger than its predecessor fund, Carlyle Asia Partners II.

Carlyle Asia Partners III is the third ex-Japan Asia Pacific private equity fund advised by the Carlyle Asia Partners team, bringing the aggregate committed capital to more than USD5bn.

The new fund has attracted commitments from large institutional investors from around the world, including the US, Europe, Middle East and Asia.

Carlyle established its Asian private equity operation in 1999, and the Carlyle Asia Partners group alone has made 21 investments in the region.

“As one of the few multi-billion dollar PE fund closings globally since the onset of the financial crisis, we are pleased with the level of support from investors, especially in this challenging fundraising environment. It is an affirmation of our investment strategy and track record as well as the attractiveness of opportunities in the region,” says X.D. Yang, managing director and co-head of Carlyle Asia Partners.

“We believe that 2010 is shaping up to be a very good year to make investments in Asia as the region bounces back strongly from the global economic crises. We see strong investment opportunities across the entire region and look forward to investing with this significant pool of capital resources at this attractive time.”

In January, Carlyle Asia Partners signed a memorandum of understanding with the Beijing Municipal Bureau of Financial Work on the formation of an RMB-denominated fund in Beijing. The Carlyle Asia Partners RMB Fund will invest alongside CAP III as well as pursue independent investments in large growth companies.

Carlyle Asia Partners III is the third ex-Japan Asia Pacific private equity fund managed by the Carlyle Asia Partners, which manages an aggregate committed capital of more than USD5bn in three funds.
 

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