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Carlyle story for the internet

Updated: 2011-05-16 20:38

By Hu Yuanyuan and Cai Xiao (chinadaily.com.cn)

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Carlyle Group, one of the world's largest private equity firms, just closed its second round of fund raising of its Beijing yuan-denominated fund to 3.2 billion yuan and inked a deal in the communication sector with the fund, the company's co-founder David Rubenstain said on Monday.

However, he declined to disclose the name of the company and the scale of the investment, but that deal marks Carlyle's first trial with its renminbi funds.

Currently, Carlyle runs two yuan-denominated fund: a $1 billion joint venture fund with Fosun in Shanghai and a fund in Beijing with a target scale of 5 billion yuan.

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