Carlyle to launch new fund in China

Carlyle Group LP, a US private equity firm, said on Thursday that it is raising its second renminbi-denominated fund and plans to accelerate investment in China to tap the growth opportunities in the country.

The Washington-based company is also raising an Asia buyout fund that targets a value of about $6.5 billion. A significant amount of the fund is expected to be invested in China as well, according to people with knowledge of the matter.

David Rubenstein, Carlyle's co-founder and co-executive chairman, said that China's vast market and enormous growth potential, as well as its strong entrepreneurial spirit and supportive government, have made the country the most attractive investment destination for the firm outside of the US.