Carlyle invests in 3 Chinese high-growth enterprises

Nov. 23, 2009 (China Knowledge) - Carlyle Group, a global private equity investment firm based in Washington D.C., on Thursday said it invested more than US$60 million in three Chinese high-growth companies, four months after it closed its US$1.04-billion Asia growth fund, Carlyle Asia Growth Partners IV, sources reported.

Carlyle said in a statement that the three Chinese companies are Nantong Rainbow Heavy Industry Co, a supplier of ship components and large port and marine-related steel structures, agricultural firm China Agritech Inc, and online travel services company iTour. 
Wayne Tsou, managing director and head of Carlyle Asia Growth Group, said all three companies have sustainable business models though they are from different sectors.

In September, Carlyle invested US$20 million in Shenzhen Ellassay Apparel Industrial Co, a high-end Chinese women's fashion house. The investment will help the Chinese company conduct design innovation, branding building, management upgrading and marketing activities, according to an earlier report from China Knowledge.