Carlyle Raises $3.9 Billion For Fourth Asia Fund

Sep 8 2014 | 10:37am ET

Investors hungry for Asian private-equity funds have poured nearly $4 billion into the Carlyle Group’s latest.

Carlyle closed its Asia Partners IV fund with $3.9 billion in commitments, well ahead of the $3.5 billion target it set in 2012. The vehicle adds to the nearly $25 billion in Asia p.e. funds raised this year and to the nearly $100 billion raised since the beginning of 2012.

Carlyle’s new fund, which increased its Asia fund assets to $13.6 billion, is larger than the $3.3 billion Asia-focused fund TPG Capital closed in May, but smaller than the record $6 billion raised by Kohlberg Kravis Roberts last year.

Asia Partners VI will focus on China, but will also invest in Indonesia, Singapore, South Korea and Taiwan. It has already made two investments, buying Tyco International’s South Korean business ADT Korea in May and investing in Chinese online classifieds service in August.

“Carlyle has been investing in China for over a decade, and we have always been able over the years to find good opportunities,” Carlyle Asia buyout co-head X.D. Yang said.

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