JSM Financial: Carlyle upbeat about Asian investment after closing its Asia Fund with $2.55 billion.

April 13, 2010 - PRLog -- JSM Financial has been informed that the U.S. private equity giant The Carlyle Group has recently announced that it has managed to raise an additional $2.55 billion for its Asia fund, the Carlyle Asia Partners III fund, bringing the total of Carlyle capital committed to Asia outside of Japan to more than $S5 billion.


“We believe that 2010 is shaping up to be a very good year to make investments in Asia as the region bounces back strongly from the global economic crises,” JSM Financial believes the managing director and co-chief of Carlyle’s Asia arm, X D Yang announced in a recent statement.

The firm said it had started raising capital for the fund in early 2008, prior to the financial crisis, and had originally hoped to raise about $3.5 billion. According to Yang’s statement it had been a “challenging fund raising environment,” although he did add that he was pleased with “the level of support” they had received before the fund was closed to new investment.

Carlyle previously announced that it intended launching a Chinese currency denominated fund worth about $730 million in a partnership with the municipal government of Beijing.
The announcement came just months after Carlyle group’s larger competitor, Blackstone Group came to a similar arrangement with the city of Shanghai as previously reported by JSM Financial.

Carlyle’s new fund is 40% larger than its predecessor Carlyle Asia Partners II, according to JSM Financial research.

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