[Image courtesy of www.carlyle.com]
Global alternative asset manager and CBI member The Carlyle Group recently announced that it has raised 3.2 billion yuan ($495 million) for its projected five billion yuan China fund, known as Beijing Carlyle Investment Center L.P.
Launched last year, the fund has now become the first foreign fund to be registered with China's National Development and Reform Commission (NDRC), the country's top economic planner.
The registration opens the fund to a wider pool of investors.
X.D. Yang, Managing Director of The Carlyle Group and Co-head of Carlyle Asia Partners, said, "Registration at the NDRC is a recognition of Carlyle's brand, financial stability and localized operation. We expect that it will help us to strengthen our cooperation with large enterprises and institutional investors like the social security funds, and deepen and extend our fund-raising and investing capabilities in China."
Please click here to read the full press release by The Carlyle Group and here for further media coverage.