July 31, 2013

Carlyle Files Japan Fund III With SEC


Private Equity International has reported that the "Carlyle Group has officially launched its third Japan-focused fund, registering the vehicle with the US Securities and Exchange Commission, according to a SEC filing from late July. Carlyle Japan Partners III is a Cayman Islands registered fund."

"The filing did not disclose the size of the fund. But a source close to the matter told Private Equity International it will be JPY 100 billion (€769 million; $1.02 billion). "

"CJP II is currently tracking a return multiple of 1x and net IRR of 5 percent, the firm said at its fourth quarter earnings call in February. Carlyle Japan Partners I, a 2001 vintage fund that is fully invested, posted a multiple of invested capital of 2.8x and net IRR of 37 percent."

"In Japan, Carlyle looks at businesses worth $100 million to $150 million but avoids big auction deals and investments in companies with more than 1,000 employees, Tamotsu Adachi, managing director of the Carlyle Group in Japan, told PEI in an earlier interview."


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