The Carlyle Group Raises US$1.8 Billion for Second Asia Buyout Fund; Carlyle Closed Investment in Eastern Broadcasting Company, Taiwan's Largest Cable Operator

Hong Kong - Global private equity firm The Carlyle Group today announced it has raised US$1.8 billion for Carlyle Asia Partners II, its second Asia buyout fund. The fund will conduct buyout and control investments in Asia ex-Japan, encompassing Australia, Greater China, India, Korea and Southeast Asia. In the last 12 months, including this new fund, Carlyle has raised a total of US$4.8 billion for buyout, growth capital and real estate investments for the region: Carlyle Japan Partners II at US$1.9 billion; Carlyle Asia Growth Partners III at US$668 million and Carlyle Asia Real Estate Partners at US$410 million.

Carlyle was one of the first global private equity firms to establish a presence in Asia, opening its regional headquarters in Hong Kong in 1998 and launching its first buyout fund, Carlyle Asia Partners I, at $750 million in 1999. The Carlyle Asia Buyout Group has made ten investments in Asian companies in a range of sectors including financial services, media and telecommunications, manufacturing and consumer.

X.D. Yang, Managing Director and Co-head of Carlyle’s Asia Buyout Group, said, "We are pleased with the strong support of our investors. They appreciate our track record and value our industry leading positioning and the credentials of our team. The rapidly growing economies across the region and Asian companies’ intensifying efforts to expand, rationalize and internationalize their businesses create increasing opportunities for private equity investors to play an active role."

Mr. Yang added, "Our successful investment experience in Asia, a completely localized team, global network and industry expertise differentiate us in providing value add to our investee companies. We strengthen portfolio companies’ management, instill best corporate governance practices, provide global perspectives on industry trends and opportunities, and grow the companies through acquisitions or strategic partnerships. We also actively help our Asian companies to expand their international business."

Greg Zeluck, Managing Director and Co-head of Carlyle’s Asia Buyout Group, said, "We are pleased to announce the closing of our investment in Eastern Multimedia Company, Taiwan’s largest cable TV operator and the largest buyout transaction to date in Asia ex-Japan. This investment demonstrates our ability to commit substantial capital and leverage our global industry expertise to support our Asian portfolio companies. Our broad industry expertise and the experience in transforming companies allow us to drive positive changes and developments. In the case of Taiwan Broadband Company, which we exited in May, the significant expansion of the company’s scale, coverage and revenue is the best testament to our value creation and partnership with the management team. We have also closed in June our investment in Chongqing Polycomp International Corporation, a leading Chinese glass fiber manufacturer."

David M. Rubenstein, Carlyle’s Co-founder and Managing Director, said, "The $4.8 billion we have raised in the past year derives from our early commitment to and success in Asia and shows the tremendous on-going demand for private equity investing across the region. We are committed to Asia for the long-term and look forward to continued success."

The Carlyle Asia Buyout Group has the largest geographic presence in the region in the private equity industry, with the one of the largest teams of investment professionals working out of seven offices in Beijing, Hong Kong, Mumbai, Seoul, Shanghai, Singapore and Sydney.