Carlyle Group to form China renminbi fund
In the first agreement of its type for Carlyle, the US private equity firm will raise RMB-denominated capital to buy Chinese assets.
US private equity firm The Carlyle Group yesterday signed a memorandum of understanding with the Beijing Municipal Bureau of Financial Work to form a renminbi-denominated fund.
The Carlyle Asia Partners RMB Fund will be registered in Beijing, and the Beijing Municipal Government will provide it with full support. The fund is likely to be established this year and will raise RMB-denominated capital, invest alongside Carlyle Asia Partners and pursue independent investments in larger gr…
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