Carlyle, Chinese Firm In US$100 Million J.V.

Feb 26 2010 | 12:24pm ET

The Carlyle Group is increasing its investment activity in china with a new joint-venture.

The Washington, D.C.-based private equity giant and Fosun Group, which manages more than US$10 billion, have launched a US$100 million global growth fund. The new vehicle, which is denominated in Chinese yuan, will invest in high-growth companies around the world.

Carlyle and Shanghai-based Fosun already jointly invest in a Chinese baby formula company.

Carlyle also announced plans for future yuan-denominated funds.

“By working with local partners like Fosun, we expect to make investments that benefit high-growth companies and enhance the local private equity industry,” Carlyle co-founder David Rubenstein said.

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