More than $130 billion in private equity and venture capital investments in China are locked inside deals with no easy exits for limited partners, posing a risk that the robust market for private fund investment into China could dry up, according to a report Wednesday by China First Capital.China Pacific was already trading on the Hong Kong exchange. China Daily reported:
Carlyle Group, one of the world's largest private equity firms, has sold its remaining stake in China Pacific Insurance (Group) Co Ltd in a deal valued at $793 million.
Carlyle began selling its stake in the insurer in late 2010. It earned about $4 billion from stock sales over that time, five times the $800 million it had invested between 2005 and 2007 for a 17 percent stake in the Chinese firm, according to calculations by Thomson Reuters.Ring the bell for a PEU five-bagger! One down, at least seven more to go.