Carlyle Group Establishes Mainland China Presence; New Shanghai Office Will Foster Buyout, Venture, and Real Estate Activity in China through Carlyle's $1 Billion in Asian Investment Assets"
Shanghai, China – Global private equity firm The Carlyle Group today opened an office in Shanghai, its first full-time presence in mainland China. Since 1999 Carlyle has conducted buyout, venture capital, and real estate investments in the pan-Asia region from offices in Hong Kong, Seoul, Singapore, and Bangalore. Carlyle’s three Asian funds have more than $1 billion in assets to invest in the pan-Asian region.
Xiang-Dong (X.D.) Yang, Managing Director and co-head of the Carlyle Asia buyout team, said, “We see an increasing number of significant investment opportunities in China. This new office reflects our confidence in and commitment to investing substantial capital in China. By leveraging Carlyle’s global expertise in the manufacturing, consumer, healthcare, and financial services sectors we are able to add real value to our portfolio companies in China.”
Wayne Wen-Tsui Tsou, Managing Director and head of the Carlyle Asia venture group, said, “Our venture investments will provide much-needed growth capital to outstanding local entrepreneurs, primarily in the technology and communications sectors, who can benefit from Carlyle’s global platform and local insight. Through targeted venture investments, Carlyle will aid in the growth and vibrancy of the private sector in China.”
David Rubenstein, co-founder and Managing Director, said, “By definition, China must be at the heart of a global investment strategy. And having local presence and expertise will be critical to our success. With the most number of Chinese national professionals among leading private equity firms in Asia, Carlyle is well positioned to gain exposure to the most exciting growth economy in the world. In addition, there is a growing appreciation among Chinese government officials and business leaders of the important role that financial institutions such as Carlyle play in helping to further develop China’s capital and investment markets.”
Carlyle has three funds that invest in the greater Asia region (including China):
- Carlyle Asia Partners -- $750 million buyout fund
- Carlyle Asia Venture Partners I -- $159 million venture fund
- Carlyle Asia Venture Partners II -- $164 million venture fund
A selection of Carlyle’s buyout and venture investments in Chinese companies:
- Amperex Technology Limited – Manufacturer of lithium-ion polymer batteries for mobile devices; invested in 6/03; Hong-Kong-based.
- Awaken – Wireless content provider; invested in 2/04; Beijing-based.
- Boto International – World’s largest manufacturer of artificial Christmas trees; invested in 8/02; Hong-Kong-based.
- Ctrip.com International, Ltd. – Online travel company; invested in 11/00; company listed on the NASDAQ in 12/03; Shanghai-based.
- E-Power – Integrated circuit design company; invested in 12/03; Shanghai-based.
- Odysys International – Developer of network storage software; invested in 8/02; Beijing-based.
- Pacific China Department Stores – Leading department store chain; invested in 5/01; Shanghai-based.