Private equity firm The Carlyle Group announced its second renminbi fund in two months, this time a $100 million fund in partnership with China's Fosun group. An agreement between the two parties was signed yesterday.
Hong Kong- and Shanghai-based Fosun group was started in 1992 and has grown into the largest privately owned conglomerate in China. The holding company of the group, Fosun International, is listed on the Hong Kong Stock Exchange. The group currently has businesses spanning pharmaceuticals, property development, steel, mining, retail, services and also takes strategic stakes in companies.
The renminbi fund announced yesterday will have an initial capitalisation of $100 million contributed by Fosun and Carlyle. Carlyle...
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