The Carlyle Group, one of the world’s largest alternative asset managers, has raised $1.8 billion (€1.4b) for its pan-Asian ex-Japan buyout fund, after closing in the last month a Japan buyout fund on $1.9 billion and an Asian growth fund on $668 million.
It brings the total amount of funds the group has raised in the last 12 months for investment in the region to $4.8 billion, including Carlyle Asia Real Estate Partners. It closed in August last year on $410 million.
Carlyle Asia Partners II will seek buyout and control stakes in Australia, China, India, Korea and Southeast Asia.
Carlyle has made two investments from the new fund. It is investing in a $1.5 billion transaction for Eastern Multimedia Company, Taiwan’s largest cable TV operator, and $65 million for a significant stake in Chongqing Polycomp International Corporation, a Chinese fibreglass maker, a Carlyle spokesperson told PrivateEquityOnline.com.
In early July, Taiwanese authorities gave the greenlight for Carlyle to advance with its investment in Eastern Multimedia. Under the deal, Carlyle will acquire stakes in three different businesses under the group – cable TV operations, cable modem, and TV programming unit, the Carlyle spokesperson said.
Greg Zeluck, managing director and co-head of Carlyle Asia Buyout Group refers to the latest media investment as “the largest transaction to date in Asia ex-Japan.”
It comes on the heels of Carlyle’s May divestment from Taiwan Broadband Company to Macquarie Media Group in an $890 million secondary sale. Carlyle is understood to have invested $171 million be in Taiwan Broadband in 1999 from its first pan-Asia ex-Japan buyout fund, which closed on $750 million in the same year.
Carlyle Asia Partners I made ten investments in financial services, media and telecommunications, manufacturing and consumer sectors. Its Asian headquarters was established in Hong Kong in 1998.
Last week, MKB Partners, set up by former Carlyle executives raised $1.56 billion for debut buyout fund that targets investments in Korea, Japan and China. Carlyle has raised a total of $6.3 billion for eight Asian funds since it commenced operations in the region.