IFC helps Carlyle grow Asia fund

The International Finance Corporation is set to provide up to $25m to Carlyle’s fifth Asia fund.

US-based private equity firm Carlyle has attracted a commitment from the International Finance Corporation (IFC), the private sector arm of the World Bank, for up to $25m for the Carlyle Asia Growth Partners fund, according to China Money Network.

The fund, the firm’s fifth such vehicle, was launched in May 2016 with a $1bn target. It is expected to invest in growth-stage companies in China and India, providing between $30m and $75m to an anticipated portfolio of 15 to 30 businesses.

IFC’s contribution will be limited to 20% of the fund’s total size.

Carlyle previously closed its fourth Asia growth fund in 2008 at just over $1bn. The firm currently has 10 growth capital funds under management across the world, with assets of $7bn as of the end of 2015.

See more from this Government Report: World Bank/IFC

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