see:
http://www.altassets.com/news/arc/2004/nz4737.phpCarlyle opens its first office in mainland ChinaCarlyle Group has opened an office in Shanghai. The firm has conducted private equity investments in the pan-Asian region from offices in Hong Kong, Seoul, Singapore, and Bangalore since 1999, but this move represents the firm's first permanent presence in mainland China.
'We see an increasing number of significant investment opportunities in China,' said Xiang-Dong Yang, managing director and co-head of the Carlyle Asia buy-out team. 'This new office reflects our confidence in and commitment to investing substantial capital in China. By leveraging Carlyle's global expertise in the manufacturing, consumer, healthcare, and financial services sectors we are able to add real value to our portfolio companies in China.'
Carlyle's three Asian funds currently have more than $1bn in assets to invest in the pan-Asian region. The firm has already made two investments in China, with a combined value of $80m. The firm took a stake in department store chain Pacific China Holdings in 2001 and also invested in the world's biggest artificial Christmas tree manufacturer, Boto International, last year.
'By definition, China must be at the heart of a global investment strategy,' said David Rubenstein, co-founder and managing director. 'And having local presence and expertise is critical to our success.
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think there's any relationship here?