Carlyle’s BJ RMB MOU breaks cover
The Carlyle Group’s recent announcement of its MOU with the Beijing Municipal Bureau of Financial Work, a division of the Beijing municipal government, to form a Beijing-based RMB fund, the Carlyle Asia Partners RMB Fund, has attracted considerable attention – though some reports were mistaken in describing it as only the second foreign private equity firm to announce its plans to raise an RMB fund.
Although disclosed details on the new fund, including the target size and fundraising timeline, were sparse, sources indicated to AVCJ that the Beijing city government will act as a launch partner for...
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