IFC proposes $25m investment in Carlyle Asia fund

The investment would see the development finance institution (DFI) take an equity stake in Carlyle Asia Growth Partners V (CAGP V), which launched last May. IFC’s investment is not to exceed 20% of the total fund commitments, according to a disclosure.

Carlyle plans to make 15-20 investments from the fund, committing $30-75 million to each company. It will focus on small buyout and late-stage growth capital investments, with about 80% of the capital committed to China and India and opportunities in South Korea and other key Asian countries to be considered as well. The vehicle is sector-agnostic and will support high-growth small and midcap companies.

IFC believes CAGP V’s investments will contribute to its goals of stimulating job growth and economic development in the region and hopes its participation will encourage other investors to commit to the fund. The DFI also plans to allow the GP to benefit from its extensive network and financing capabilities in the region and will look for opportunities to co-invest in the fund’s portfolio companies.

Carlyle’s main vehicle is Carlyle Asia Partners IV, which launched in 2012 and closed at $3.9 billion in 2014, and targets control and significant minority investments across the Asia ex-Japan region. Earlier this year the fund partnered with CITIC Capital to purchase the master franchise rights to the McDonald’s business in China and Hong Kong for $2.1 billion. Carlyle will hold a 28% stake in Grand Foods Holdings, the company formed to manage the restaurant chain.

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• Topics
• Greater China
• South Asia
• GPs
• Fundraising
• Growth
• China
• India
• The Carlyle Group
• IFC