Carlyle Eyes $1B For Fifth Growth Fund In Asia

Carlyle Group LP is seeking to raise around US$1 billion for its fifth Asian fund to back fast-growing companies across the region, according to media reports and a securities filing.

The Carlyle Asia Growth Partners V, L.P. is roughly the same size as the global private equity giant's previous Asian growth vehicle raised in 2008, which closed at US$1.04 billion.

That fund has achieved an 8% net internal rate of return for investors through the end of last year.

Carlyle, which started operation in Asia in the late 1990s, has ten growth capital funds worldwide with US$7 billion in assets under management as of the end of 2015.

The firm’s Asia growth funds have a heavy focus on China, investing across a broad range of...

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