The funds invest in high growth private companies in China, India, Korea and other Asian markets.
Carlyle said it raised the money for fund IV in 14 months, adding that it reflects improving investor sentiment towards China and India as the two major economies begin to stabilize. Nearly 40% of the fund’s investors are new, Carlyle said. Known LPs in fund IV include the California Public Employees’ Retirement System and Princess Private Equity Holding Ltd.
“Despite the economic downturn, most of our growth capital portfolio companies have achieved growth rates in the range of 20% to 50% over the last year,” Wayne Tsou, managing director and head of Carlyle Asia Growth Partners, said in a statement.
The fund made its first investment in Chinese high-end women’s fashion company Ellassay. —Michael Flaherty, Reuters
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