June 21, 2018 / 1:37 AM / 2 months ago

Carlyle raises $6.6 billion for new Asia fund

HONG KONG, June 21 (Reuters) - Carlyle Group said on Thursday it had raised $6.6 billion for its Asia private equity fund, its biggest ever, which will seek buyout and strategic investment opportunities across a wide range of sectors in the region.

The latest fund is more than Carlyle’s initial target of $5 billion and is 65 percent bigger than its previous Asia buyout fund, said the U.S.-based private equity firm with $201 billion of assets under management globally.

Reuters reported last month, citing people with knowledge of the matter, that Carlyle had raised its Asia fundraising target following a strong response from its investors and that it was looking to close the fund at $6.5 billion.

“We expect to see more and larger investment opportunities in the region driven by innovation, attractive demographics, rising consumption and corporate spin-offs,” X.D. Yang, chairman of Carlyle Asia excluding Japan, said in a statement.

Carlyle’s existing portfolio firms in Asia range from a stake in Chinese internet giant Tencent’s e-book unit China Literature to Metropolis Healthcare, an India-based global operator of pathology laboratories. (Reporting by Kane Wu; Writing by Sumeet Chatterjee; Editing by Subhranshu Sahu)

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