Carlyle Group, the US private equity fund, on Tuesday unveiled plans to work with city authorities in Beijing to establish a renminbi fund that will enable it to make local currency investments across China. Carlyle has signed an MoU with the Beijing municipal government and expects the fund to begin operation later this year. Up to now, foreign buy-out groups in China have faced strict regulations on the use of dollar-based offshore funds to acquire local assets.

This entry was posted by Gwen Robinson on Tuesday, January 12th, 2010 at 5:03 and is featured in The 6am Cut London (12 Jan 2010) . Tagged with carlyle, china. Edit this entry.