Carlyle's Record Haul

Jan 8 2013 | 11:07am ET

The Carlyle Group has sold the last of its stake in China's third-largest insurer, earning itself a handsome profit in excess of US$4 billion.

The private equity giant bought up a 17% stake in China Pacific Insurance between 2005 and 2007 for US$740 million. It began selling its holdings two years ago, and dumped its last shares in the company today. Today's proceeds totaled US$796 million, more than Carlyle paid for its entire investment in CPIC.

All told, Carlyle took in US$5.1 billion from the CPIC sales, earning it a US$4.3 billion profit, the biggest-ever single haul in the firm's history.

CPIC went public in 2009; Carlyle last sold a chunk of shares in July. Carlyle had owned 8.81% of the company until today.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of