Carlyle exits China Pacific with $4b profit
As a private equity investment, China Pacific Insurance stood out from the beginning. When The Carlyle Group paid approximately $400 million for a 24.98% stake in the firm’s life insurance subsidiary in 2005, it was comfortably the largest PE deal in China’s financial services sector outside of minority investments in the Big Four state banks.
Two years later, Carlyle took its equity commitment to nearly $800 million as part of a broader restructuring effort and ended up owning 19.9% of China Pacific Insurance itself. With the exception of Newbridge...
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