Carlyle to launch new fund backed by IFC, targeting $1 bn commitment

It will be a 10-year closed-end generalist private equity fund, domiciled in Cayman Islands

The Carlyle Group, a US-based investment entity, is planning to launch a new fund, to invest in small buyout and late-stage growth capital investments in some countries, including India.

Targeting $1 billion in commitments, will be backed by International Finance Corporation (IFC). It will be a 10-year closed-end generalist private equity fund, domiciled in the Cayman Islands.

Carlyle Asia Growth Partners Fund-V, as it is called, is apparently to look primarily at China and India, and to an extent, South Korea. It is expected to make 15 to 20 investments of a size of $30-75 million each, in high-growth companies that are expected to create new employment opportunities by focusing on middle market growth equity investments. It will focus on small-cap and mid-cap companies that need growth capital.

The proposal is for IFC to make an equity investment of up to $25 million in the fund, not to exceed 20 per cent of total fund commitments. Their participation, said IFC, would encourage other investors in currently challenging money-raising environment, with institutional investors' reduced risk appetite for emerging markets.

IFC said it would also look at whether it could participate in co-investment opportunities alongside the fund.

Carlyle had $158 billion in assets under management (AUM) across 113 active funds and 168 fund-of-funds, as of end-December. In emerging markets, it managed seven private equity fund families, with total AUM of $11 bn as of that date.
 

PE/VC Investments by Carlyle
Year	No. Of Deals	Amount (US$)
2015	3	372
2014	1	33
2013	5	168
2012	6	70
2011	8	96
2010	1	22
2009	2	5
2008	1	19
2007	4	714
2006	4	57
2004	2	19
2003	2	7
2002	1	4
2001	1	8
2000	3	9
Top PE/VC Investments by Carlyle 2000-2015
Company	Amount(US$M)	Date
HDFC	660	Jul-07
Destimoney	200	Feb-15
Medanta Medicity	161	Dec-13
Metropolis Healthcare	128	Sep-15
Dee Development Engineers	44	Aug-15