China Knowledge reported that Carlyle Group LP a global private equity investment firm, CNY fund, Beijing Carlyle Investment Center has been registered with China National Development and Reform Commission.

Carlyle Group is the first foreign fund to obtain such approval from NDRC.

The fund which was formed between Carlyle Asia buyout team and the Beijing Municipal Government aims to raise CNY 5 billion.

Carlyle Group said in a statement that the fund has completed its second fundraising with capital commitments of CNY 3.2 billion and the fund has made its first investment in the consumer sector.

Mr XD Yang MD of Carlyle Group and co head of Carlyle Asia Partners said the company expects that the registration will help strengthen the firm cooperation with large enterprises and institutional investors, such as the social security funds and enhance its fund raising and investing capabilities in China.

(Sourced from China Knowledge)