Overview

The Carlyle Asia Buyout team engages in buyouts, privatizations and strategic minority investments in partnership with experienced management teams throughout Asia, generally excluding Japan.

Carlyle Asia Partners I

Launched in 1999 at $750 million, this fund conducts leveraged buyout transactions in Asia in targeted industries.

Investment Industry Invested Status
Boto International Holdings Limited

During the period of Carlyle's ownership, Boto International Holdings Limited was a supplier of artificial Christmas trees.

Consumer & Retail Exited
Caribbean Investment Holdings Limited

Caribbean Investment Holdings Limited sells and administers holding companies incorporated in a variety of worldwide jurisdictions.

Technology & Business Services Exited
China Pacific Insurance (Group) Co. Ltd. (formerly China Pacific Life Insurance)

During the period of Carlyle's ownership, China Pacific Insurance (Group) Co. Ltd. (formerly China Pacific Life Insurance) was a leading multi-line insurance group.

Financial Services Exited
KorAm Bank

During the period of Carlyle's ownership, KorAm Bank was the seventh largest national commercial bank in Korea with approximately 226 branch locations and 4,250 full and part-time employees.

Financial Services Exited
Mercury Corporation

During the period of Carlyle's ownership, Mercury Corporation was a manufacturer and supplier of telecom equipment in Korea.

Telecom & Media Exited
Pacific China Holdings

During the period of Carlyle's ownership, Pacific China Holdings Ltd operated a chain of nine department stores in China.

Consumer & Retail Exited
Taiwan Broadband Communications

During the period of Carlyle's ownership, Taiwan Broadband Communications was Taiwan's first professionally operated multiple-systems operator and was the third largest cable television MSO in Taiwan.

Telecom & Media Exited
WILLCOM, Inc.

During the period of Carlyle's ownership, WILLCOM, Inc. was a Japanese provider of wireless data and voice services to corporate and individual customers.

Telecom & Media Exited
Carlyle Asia Partners II

Launched in 2005 at $1.8 billion, this fund conducts leveraged buyout transactions in Asia in targeted industries.

Investment Industry Invested Status
Chongqing Polycomp International Corporation

Chongqing Polycomp International Corporation is the third largest China-based manufacturer of high-performance glass fibers for the composite reinforcement and yarns market.

Industrial Exited
Coates Hire Limited

Coates Hire Limited is the largest general equipment hire company in Australia.

Industrial Exited
Eastern Broadcasting Company

Eastern Broadcasting Company is one of Taiwan’s largest television programmer and channel operators.

Telecom & Media Exited
Housing Development Finance Corporation

Housing Development Finance Corporation is a public company in the financial services sector.

Technology & Business Services Exited
Hyundai Communications & Network

Hyundai Communications & Network is Korea’s fourth-largest cable television multiple system operator.

Telecom & Media Exited
kbro Limited (formerly Eastern Multimedia Company)

kbro Limited (formerly Eastern Multimedia Company) is one of the two largest cable multiple systems operators in Taiwan.

Telecom & Media Exited
NXP Semiconductor N.V.

NXP Semiconductor N.V. is a global leader in the design of embedded semiconductors for wireless, networking, automotive, consumer and industrial markets.

Technology & Business Services Exited
Yangzhou Chengde Steel Tube Co. Ltd.

During the period of Carlyle's ownership, Yangzhou Chengde Steel Tube Co. Ltd. was a manufacturer of large diameter seamless steel pipes.

Technology & Business Services Exited
Yuanta Financial Holdings

Yuanta Financial Holdings is a mid-sized commercial bank in Taiwan.

Financial Services Exited
Zhejiang New Century Hotel Investment & Management Group Limited

Zhejiang New Century Hotel Investment & Management Group Limited is a leading hotel operator and the largest privately owned hotel operator in China.

Consumer & Retail Exited
Carlyle Asia Partners III

Launched in 2007 at $2.55 billion, this fund conducts leveraged buyout transactions in Asia in targeted industries.

Investment Industry Invested Status
7 Days Group Holdings Limited

The second largest budget hotel chain in China.

Consumer & Retail Exited
China Fishery Group Limited

China Fishery Group Limited is a global industrial fishing company focused on the harvesting, processing and distribution of three major fish species: Pollock, Peruvian Anchovy (for fishmeal and fish oil) and Jack Mackerel.

Consumer & Retail Current
CP Pokphand Co. Ltd

CP Pokphand Co. Ltd. is the second largest livestock feed producer in China.

Industrial Exited
Crystal Orange Hotel Holdings Limited

Lease-and-operate mid-market hotel chain.

 

Consumer & Retail Exited
Focus Media

A multi-platform out-of-home advertisement display company.

 

 

Telecom & Media Current
Global Health Private Limited

A leading hospital in the National Capital Region of Delhi providing specialty care in Cardiology, Neurology, Gastro, Liver Transplant, and Orthopedics.

 

Healthcare Current
Greater China Intermodal Investments LLC

The joint venture focuses on bringing together Chinese shipbuilders, lenders and state-owned companies to support China's desire to increase the amount of cargo it controls.

Transportation Current
Haier Electronics Group

Haier is a leading consumer electronics company based in Hong Kong.

Consumer & Retail Exited
Healthscope Limited

Healthscope Limited is the second largest private hospital provider in Australia.

Healthcare Exited
India Infoline Ltd.

IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments.

Financial Services Exited
Jiangsu Sinorgchem Technology Co., Ltd.

Jiangsu Sinorgchem Technology Co., Ltd. is China's largest producer of para-phenylenediames, which is a key rubber chemical additive.

Industrial Exited
Natural Beauty Bio-Technology Limited

Natural Beauty Bio-Technology Limited is one of Greater China’s largest skin care product and beauty spa service providers with the bulk of its operations carried out via franchised beauty spas in the PRC and Taiwan.

Consumer & Retail Exited
Yashili International Holdings Limited

Yashili International Holdings Limited is one of China’s largest infant formula companies.

Consumer & Retail Exited
Carlyle Asia Partners IV

Launched in 2013 at $3.9 billion, this fund conducts leveraged buyout transactions in Asia in targeted industries.

Investment Industry Invested Status
iNova Pharmaceuticals

iNova is an Australian pharmaceuticals company that owns and markets a range of prescription and over the counter medicines in Australia, South Africa, and Asia.

Healthcare Current
58.com

58.com Inc. operates an online marketplace for local merchants and consumers in the People’s Republic of China.

Technology & Business Services Exited
Accolade Wines

Accolade Wines is the largest wine company in Australia and fifth largest wine company in the world, by volume.

Consumer & Retail Current
ADT CAPS Co., Ltd.

ADT Caps is one of the leading advanced security monitoring and dispatch service providers in South Korea.

Industrial Exited
Ant Financial

Ant Financial (“the Company”) is the largest fintech platform in China.

 

Financial Services Current
Asia Satellite Telecom Holdings

Asia Satellite Telecom Holdings is a leading satellite operator in Asia.

Telecom & Media Current
Atotech BV

Atotech is a leading supplier of chemicals and equipment for electroplating printed circuit board, metals, and plastics that go into the integrated circuit board, electronics and automotive end markets. 

Industrial Current
China Literature Limited

China Literature Limited (formerly known as China Reading) is the largest online literature platform operator in China.

Technology & Business Services Current
Delhivery Logistics Private Limited

Delhivery Logistics Private Limited is India's largest third-party express delivery company. 

Transportation Current
Fang Holdings Limited

Fang Holdings Limited (formerly Soufun) operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China.

Technology & Business Services Current
Ganji.com

Ganji.com is a prominent operator of online & mobile-based classifieds.

Technology & Business Services Exited
Grand Foods Holdings Limited

Grand Foods is a quick service restaurant chain operator that manages McDonald's restaurants in China and Hong Kong. 

Consumer & Retail Current
JD Logistics

JD Logistics is the number 1 integrated warehouse & delivery player in China.

Industrial Current
Metropolis Healthcare Limited

Metropolis Healthcare Limited operates a chain of diagnostic centers and laboratories.

Healthcare Current
MicroPort Scientific Corporation

MicroPort Scientific Corporation, an investment holding company, develops, manufactures, exports, and sells interventional medical devices worldwide.

Healthcare Current
OneSmart Education

OneSmart Education is a K-12 tutoring company in China.

Consumer & Retail Current
PNB Housing Finance Limited

PNB Housing Finance Ltd. offers loans for purchase and construction of property, flat, houses, and apartments to resident Indians and NRIs.

Financial Services Current
SBI Card

SBI Cards & Payment Services Private Limited is an independent credit card issuer in India that issues State Bank of India (“SBI”) branded credit cards. SBI is the largest bank in India.

Financial Services Current
Shanghai ANE Juchuang Supply Chain Management Co., Ltd

A prominent less-than-truckload operator in China.

Transportation Current
Tongyi Lubricant

Independent lubricant manufacturer in China.

Industrial Current
VXI Global Solutions

VXI Global Solutions is a Los Angeles headquartered global provider of premier customer relationship management (“CRM”) BPO and outsourced software R&D services.

Technology & Business Services Current
Zhongmei Healthcare Group

A leading private hospital group in China. 

Healthcare Current
Carlyle Beijing Partners Fund
Investment Industry Invested Status
Beijing Ubox Technology & Trade Co., Ltd.

Beijing Ubox Technology & Trade Co., Ltd. manufactures vending machines and owns a national vending machine network in China.

Consumer & Retail Exited
Haier Bio-Medical and Laboratory Products Co., Ltd.

Haier Bio-Medical and Laboratory Co., Ltd. engages in the design, manufacture, and marketing of laboratory equipment that enable scientific researchers to perform research projects and produce pharmaceutical products.

Healthcare Exited
Haoxianggou TV Shopping Co. Ltd.

Haoxianggou TV Shopping Co. Ltd. is a TV shopping channel. 

Consumer & Retail Current
Meinian Onehealth Healthcare (Group) Co., Ltd.

Meinian Onehealth Healthcare (Group) Co., Ltd provides general medical examinations, disease screening and services such as doctor referrals and traditional Chinese preventive health services.

Healthcare Exited
Carlyle Beijing Partners Fund II
Investment Industry Invested Status
Shanghai Lantu Information Technology Co., Ltd.

Shanghai Lantu Information Technology Co., Ltd. is a leading independent auto aftermarket (“IAM”) retailer and services provider.

Transportation Current

Established in 1998, the firm’s first buyout fund focused on Asia, Carlyle Asia Partners, L.P. (CAP), closed with $750 million in commitments from leading domestic and international investors. The firm raised Carlyle Asia Partners II, L.P. (CAP II), its second Asian buyout fund (excluding Japan), at $1.8 billion in 2006. CAP II will conduct buyout and control investments in Asia, encompassing Australia, Greater China, India, Korea and Southeast Asia. The Carlyle Asia Buyout Group has made investments in Asian companies in a range of sectors including financial services, media and telecommunications, manufacturing and consumer.

The Asia Buyout team’s approach to investing comprises the following five major principles:
 

  • Conservative and Disciplined : A conservative and disciplined investment philosophy produces the highest consistent returns. We seek to make sound investments in good companies with strong management teams.
  • Industry Specialization: Since its inception, Carlyle has employed an industry-focused approach to investing. In-depth knowledge of specific industries improves our ability to source and create deals, conduct effective due diligence, develop strong relationships with management teams and identify suitable potential buyers as part of a coherent exit strategy.
  • Deal Creation / Auction Avoidance: Non-competitive situations or limited auction transactions account for many of the Carlyle investments to date. We generally avoid the full auction process, although we will participate in such auctions when we believe we have an edge over the competition.
  • Value Added Investor: Investment professionals devote a significant amount of their time to working closely with portfolio companies. Each team uses its industry expertise to facilitate implementation of effective operational and marketing strategies by the portfolio companies.
  • The Carlyle Edge: We generally decline to make an investment unless we believe we have an edge over the competition such as industry knowledge and expertise, the ability to move quickly to commit to transactions, positive relationships with management teams and the experience and opportunity to participate in strategic joint ventures with corporate partners or coinvestments with other Carlyle funds.
Team Member Title Location Industry
Tian Ai Vice President Beijing, China
Neeraj Bharadwaj Managing Director Mumbai, India
David J. Bluff Managing Director Sydney, Australia
Herman H. Chang Managing Director Shanghai, China
Rishabh Chindalia Vice President Mumbai, India
Janine Feng Managing Director Hong Kong, China
Manish Gaur Director Mumbai, India
Eric Goh Vice President Singapore
Nina Gong Managing Director Beijing, China
Le Guan Director Beijing, China
Eugene Hahm Director Seoul, Korea
Long Hoang Director Singapore
Henry Hu Vice President Beijing, China
Ashish Karan Director Mumbai, India
Sunil Kaul Managing Director Singapore
Sanghyun Lee Managing Director Seoul, Korea
Helen Lian Vice President Beijing, China
Frank Lin Vice President Hong Kong, China
Wanlin Liu Managing Director Shanghai, China
William (Bill) Lo Vice President Jakarta, Indonesia
Kapil Modi Vice President Mumbai, India
Rahul Mukim Vice President Mumbai, India
Vikram Nirula Managing Director Mumbai, India
Alwin Poon Managing Director Hong Kong, China
Patrick Rodden Director Sydney, Australia
Patrick T. Siewert Managing Director Hong Kong, China
Min Sup Song Vice President Seoul, Korea
Dennis Wang Director Shanghai, China
Robby Winarta Managing Director Jakarta, Indonesia
Ling Yang Managing Director Shanghai, China
Xiang-Dong (X.D.) Yang Managing Director Hong Kong, China
Yi Yu Director Beijing, China
Gregory M. Zeluck Managing Director Hong Kong, China
Yuchen Zhang Vice President Shanghai, China
Justin Zhou Director Beijing, China
Judy Zhu Director Beijing, China
Company Industry Acquired Status
Yashili International Holdings Limited Consumer & Retail
Guangdong , China
Exited
Haier Electronics Group Consumer & Retail
Qingdao, China
Exited