Carlyle Asia Growth Partners III Raises US$668 Million to Support Emerging Asian Business Leaders with Expansion Capital

Hong Kong – Global private equity firm The Carlyle Group announced today it has raised US$668 million for Carlyle Asia Growth Partners III (CAGP), which invests in promising private companies at an expansionary stage with solid growth track records across industry sectors in China, India, Japan and Korea. Three investments have already been made out of the new fund, including US$20 million in Claris Lifesciences (a fast growing pharmaceutical company in India), US$25 million in Credit Orienwise (the largest private credit guarantee company in China) and US$27.5 million in Anxin Flooring (the number one manufacturer and distributor of solid wood flooring in China).

Carlyle Asia Growth Partners is the third fund managed by the Carlyle Asia Growth Capital group, which has an aggregate committed capital of approximately US$1 billion, under the leadership of Managing Director Wayne Wen-Tsui Tsou. The group invests through a team of local professionals in six offices - Beijing, Hong Kong, Mumbai, Shanghai, Seoul and Tokyo.

In addition to CAGP, the group also manages Carlyle Asia Venture Partners I (US$159 million) and II (US$164 million), which were launched in 2000 and 2002, respectively. Together, the two earlier funds have invested in 37 companies and realized 12 investments.

"Carlyle is among the first movers to make such growth capital investments. We look for companies with outstanding management and track record, differentiating and proven business models, as well as large potential markets. When contrasted with traditional venture capital investing, our growth capital investment strategy provides our investors better assurance of returns and lower risk exposure," said Tsou.

The group has a diversified but highly disciplined investment strategy. "We invest in capable management teams and leverage Carlyle’s international network and industry expertise to help them become local industry leaders and global players. We provide the right tools and skills to accelerate the companies’ growth. From implementing the best management practices and financial systems to attracting top talent and facilitating potential alliances, we act as a committed, long-term partner to our portfolio companies.

And we believe this is the best investment approach to bringing superior returns to both the companies and our investors. The ultimate value creation will also benefit the local industries and economies," Tsou added.

David M. Rubenstein, Carlyle Co-founder and Managing Director, said, "We are delighted with the strong support from our investors and their endorsement of our investment strategy and track record. CAGP is the largest growth capital platform in Asia and provides investors with exposure to the rapid growth and vibrant entrepreneurial environment in Asia. Asia is a key focus of our global business. We support funding needs of a spectrum of companies at different stages of development, in multiple sectors and economies with a comprehensive coverage model and a large network of investment professionals."

Carlyle currently has the largest team of investment professionals in Asia Pacific among global private equity firms. Carlyle has four dedicated groups to focus on different opportunities and companies:

1. Carlyle Asia Growth Capital – targets promising, growth companies in China, India, Japan and Korea


2. Carlyle Asia Buyout – targets buyout opportunities in Asia ex-Japan


3. Carlyle Japan Buyout – targets buyout opportunities in Japan


4. Carlyle Asia Real Estate – targets real estate investments primarily in China, Japan and Korea