Deals

Carlyle opens third China office

The global private equity firm has opened its seventh office in Asia, staffing a new Beijing office with four investment professionals.

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Washington DC-headquartered The Carlyle Group has opened a new office in Beijing, its third fully staffed office in the country.

The Beijing office will initially have four investment professionals – two in the growth capital team, one focused on buyouts and one concentrating on real estate.

The ‘Zhongguancuan’ district of Beijing is the Silicon Valley of China and houses the highest concentration of new-industry high-growth entrepreneurial companies in China.

Wayne We-Tsui Tsou, head of growth capital Asia, Carlyle

Carlyle now has a total of 57 investment professionals operating out of seven offices across Asia, including Hong Kong, Seoul, Singapore, and Shanghai.

Across the region, Carlyle operates three funds with more than $1 billion under management, including Carlyle Asia Partners the firm’s $750 million buyout fund for the region.

Commenting on the opening, managing director and head of Carlyle’s Asia growth capital group, Wayne Wen-Tsui Tsou, said in a statement: “Beijing is the national headquarters of key strategic Chinese industries including telecom, media, IT, banking and energy.”

Tsou went on: “Furthermore the ‘Zhongguancuan’ district of Beijing is the Silicon Valley of China and houses the highest concentration of new-industry high-growth entrepreneurial companies in China.”

Last month, Carlyle launched an Indian buyout team in Mumbai under the stewardship of former DSP Merrill Lynch investment banker Rajeev Gupta, who became managing director and head of Carlyle India.

Earlier this year, Carlyle lost its former co-head of Asian buyouts, Michael Kim, who left the firm to set up his own private equity firm MBK Partners.