Carlyle Group said June 21 that its most recent Asia fund closed on $6.5 billion. The target for Carlyle Asia Partners V (CAP V) was $5 billion. Carlyle said the pool will focus on buyout and strategic investments across a wide range of sectors in Asia Pacific.
Hong Kong and Beijing – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced the final close of Carlyle Asia Partners V (CAP V) at US$6.55 billion, exceeding its target of US$5 billion and more than 65% larger than its predecessor fund Carlyle Asia Partners IV. CAP V is the latest in Carlyle’s Asia buyout funds series, which will focus on buyout and strategic investments across a wide range of sectors in Asia Pacific.
X.D. Yang, Chairman of Carlyle Asia (ex-Japan) and Co-Head of Asia Buyout, said, “We are grateful for, and humbled by, the support and confidence of our investors. Our track record in sourcing opportunities and creating value in partnership with management teams is a testament to our team’s experience in Asia. We expect to see more and larger investment opportunities in the region driven by innovation, attractive demographics, rising consumption and corporate spin-offs.”
Greg Zeluck, Co-Head of Asia Buyout, said, “Carlyle is a dominant private equity investor in a number of fast-growing sectors in Asia, in particular the new economy and healthcare sectors. With the closing of our new fund, we will continue to draw upon our global resources and local industry knowledge to pursue compelling investment opportunities and expand our investment footprint.”
Carlyle started investing in Asia in 1998 and has since partnered with more than 160 companies through its Asian private equity platform. CAP V invests in consumer and retail, financial services, telecommunications, media and technology (TMT), healthcare and industrials.
Carlyle’s Asian private equity platform has invested and committed more than US$2.5 billion of equity in Asia Pacific ex-Japan in the last 12 months, including: iNova Pharmaceuticals and Accolade Wines in Australia; SBI Card and Visionary RCM in India; McDonald’s businesses in mainland China and Hong Kong; OneSmart Education, Tuhu, JD Logistics, Ant Financial and Baidu Financial (rebranded as “Du Xiaoman Financial”) in China.
Kewsong Lee, Co-CEO of The Carlyle Group, said, “Asia is a critical market for Carlyle. We are excited about the investment opportunities in this part of the world and look forward to continuing to establish trusted partnerships in the region. We are proud to have built what we believe is the premier private equity platform in Asia with a world-class team and track record.”
The Carlyle Asian private equity team has more than 50 investment professionals in eight offices, including Beijing, Hong Kong, Jakarta, Mumbai, Seoul, Shanghai, Singapore and Sydney, supported by operating executives and senior advisors with an average of more than 30 years of operating experience. As one of the largest private equity investors in Asia Pacific, Carlyle has invested more than US$18.5 billion of equity in the region, with US$20 billion of assets under management as of March 31, 2018.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. 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 Credit 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 1,575 people in 31 offices across six continents.