Carlyle raises $738m in latest China Pacific sell-down
The Carlyle Group has sold $723 million of shares in China Pacific Insurance (CPIC) through a block trade, marking the private equity firm's fifth partial exit from the company since December 2010. Total returns are in excess of $4 billion, putting Carlyle on course for its biggest ever cash exit globally.
According to Bloomberg, Carlyle Holdings Mauritius and Parallel Investors Holdings - both funds controlled by Carlyle - have sold 220 million shares in CPIC for HK$25.5 to HK$26 each, representing a 5.2%...
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