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

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note