Carlyle raises $668 million Asia fund

The fund, which has already made three investments, will focus on emerging Asian business leaders with extension capital.

The Carlyle Group has held a final close on Carlyle Asia Growth Partners III at $668 million (€53 million). The firm says the fund will invest in promising private companies at an expansionary stage in China, India, Japan and Korea. The investments will be made across industry sectors.

Three investments have already been made out of the new fund including $20 million in Claris Lifesciences in India, $25 million in Credit Orienwise in China and $27.5 million in Anxin Flooring in China.

This will be the third fund managed by Carlyle Asia Growth Capital Group, which has an aggregate committed capital of approximately $1 billion. The group, which is managed by Wayne Wen-Tsui Tsou, has offices in Beijing, Hong Kong, Mumbai, Shanghai, Seoul and Tokyo. The group also manages Carlyle Asia Venture Partners I, a $159 million fund, and Carlyle Asia Venture Partners II, a $164 million fund.

Carlyle says it currently has the largest team of investment professionals in Asia Pacific among global private equity firms. The firm has four different groups to focus on different opportunities in Asia. Those groups are Caryle Asia Growth Capital, Carlyle Asia Buyout, Carlyle Japan Buyout and Carlyle Asia Real Estate.