The International Finance Corporation (IFC) is considering an investment of up to US$25 million in Carlyle Group’s fifth Asia fund, Carlyle Asia Growth Partners V, L.P., according to a disclosure.
IFC says its commitment would not exceed 20% of the total committed capital of the fund.
The fund was established in May last year with a target size of US$1 billion to invest in fast-growing companies, primarily in China and India. It is expected to make around 15 to 30 investments with a size between US$30 million to US$75 million per investment.
The company’s fourth Asia growth fund, which was raised in 2008, closed at US$1.04 billion.
The firm’s Asia growth funds have a heavy focus on China, investing in a number of sectors. Its portfolio companies in China include Shanghai-based mining company ArtGo Holding Ltd, Zhejiang-based East River Biochemical Group, Shenzhen-based Concord Medical Service Co., and Hong Kong-based digital cinema solutions provider GDC Technology Ltd.
Starting operation in Asia in the late 1990s, Carlyle has ten growth capital funds worldwide with US$7 billion in assets under management as of the end of 2015.
