Business / Industries

Carlyle Group invests $120 million in Shanghai ANE Logistics

By CAI XIAO ( Updated: 2015-06-30 16:03

Carlyle Group, the global alternative asset manager, plans to invest about $120 million into a China's fast-growing logistic company Shanghai ANE Logistics Ltd.

Subject to customary closing conditions, the transaction is expected to go through in the third quarter of this year. Equity for the deal would come from Carlyle Asia Partners IV.

"China's economic restructuring and e-commerce development will bring about significant growth and consolidation opportunities in the country's logistics industry," Eric Zhang, managing director of the Carlyle Asia buyout team, said.

Zhang pointed out that ANE is well positioned to expand with its attractive franchise model and strong management team.

Carlyle has invested about $5.9 billion in China as of March 31, 2015.

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