The Carlyle Group said Monday it has agreed to invest $115 million for an 18.54 percent stake in JIC Leasing Co. Beijing-based JIC is a financial leasing company in China that targets leasing equipment in sectors such as information technology, advanced equipment manufacturing as well as healthcare, environment and alternative energy. Equity for the investment is coming mainly from Carlyle Asia Growth Partners IV.
Beijing, China – Global alternative asset manager The Carlyle Group (NASDAQ: CG) has agreed to invest approximately US$115 million for an 18.54% stake in JIC Leasing Co., Ltd. Subject to customary closing conditions including required regulatory approvals, the transaction is expected to close in the second half of 2015. Equity for the transaction will primarily come from Carlyle Asia Growth Partners IV.
Founded in 1989 in Beijing, JIC Leasing is a subsidiary of China Jianyin Investment Ltd. A prominent independent financial leasing company in China, JIC Leasing targets three core verticals for its leasing portfolio: (1) Information Technology, (2) Advanced Equipment Manufacturing, and (3) Healthcare, Environment and Alternative Energy, all enjoying significant growth potential as a result of China’s ongoing economic transition.
Wayne Tsou, Managing Director and Co-Head of the Carlyle Asia growth capital team, said: “Carlyle is excited to participate in the reform of a state-owned enterprise (SOE) in an attractive sector with strong growth momentum. We are impressed by JIC Leasing’s capable management team and its winning strategy of combining its strong SOE background with market-oriented business practice and process.”
Sean Lu, Managing Director of the Carlyle Asia growth capital team, added: “We look forward to working together with JIC Leasing’s seasoned and motivated management to bring the business to the next level and capitalize on the growth potential in China’s leasing industry.”
Chen Youjun, Board Chairman of JIC Leasing, said: “We are pleased to partner with Carlyle to further grow and diversify our business at home and abroad. JIC Leasing expects to benefit from Carlyle’sinternational brand equity, global resources and strong industry expertise in the financial sector andbusiness management.”
Carlyle has invested approximately US$5.9 billion of equity in 80 transactions in China as of March 31, 2015.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 130 funds and 156 fund of funds vehicles as of March 31, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 40 offices across six continents.
About China Jianyin Investment
China Jianyin Investment Ltd. (hereinafter referred to as “JIC”) was established in September 2004 with the approval of the State Council and a registered capital of 20.7 billion yuan. By the end of 2014, the company had consolidated total assets of 143 billion yuan and a workforce of 15,000 employees.
Focusing on equity investment and industrial management, JIC is an integrated investment group that possesses a complete set of investment systems. Its major businesses operate across fields including investment, finance, real estate, technology & consulting, culture & media. The company’s subsidiary enterprises include JIC Investment Co., Ltd., JIC Huawen Media Investment Ltd., JIC Technology Co., Ltd., JIC Bookstore Investment Co., Ltd., JIC Capital Management (Tianjin) Ltd., JIC Trust Co., Ltd., GuoTai Asset Management Co., Ltd., JIC Leasing Co., Ltd., JIC Holding Co., Ltd., China Investment Development Co., Ltd., China Investment Consulting Co., Ltd., and JIC Engineering Consulting Ltd..
About JIC Leasing
Founded in 1989 in Beijing, JIC Leasing is a prominent independent financial leasing company in China. It is a subsidiary of China Jianyin Investment. The Company targets three core verticals for its leasing portfolio: (1) Information Technology, (2) Advanced Equipment Manufacturing, and (3) Healthcare, Environment and Alternative Energy. The Company is headquartered in Beijing with offices in Shanghai and Hong Kong. Its core management team consists of senior executives with an average of nearly 20 years of leasing or financial experience.