Carlyle eyes consumer-oriented businesses in China


It's not too surprising Carlyle Group (CG -1.4%) is finding China the most attractive economy to invest in (outside of the U.S.), but co-founder David Rubenstein says he's most interested in consumer-oriented firms, not export businesses. His remarks come as Carlyle is raising its 4th Asia-dedicated buyout fund - as of mid-January, $1.58B has been raised against a target of $3.5B.

Carlyle's fund will join an expanding pile of dry powder, with research firm Preqin estimating $120B awaits something to invest in in Asia. Noting the boosted competition, Rubenstein says only two or three firms have the firepower and/or credibility to do large deals throughout the region.

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