Carlyle Asia team spends $140m

The firm has recently inked four growth capital deals including the backing of an Indian dairy company.

Carlyle Asia Growth Partners, the Asian growth investment unit of The Carlyle Group, has invested more than $140 million across four investments in China, Korea and India.

This includes the $22 million investment in India's Tirumala Milk Products, which the firm disclosed last week.

The firm's other investments have been made in Chinese automated teller (ATM) machine operator ATMU, South Korean car rental chain HKucar Global and laser engineering company EO Technics, another South Korean company, it said in a statement.

The investments have been made from Carlyle Asia Growth Partners  (CAGP) IV, which closed on $1.04 billion in June 2009. CAGP IV is a sector-agnostic growth fund investing in China, India, Korea and other key Asian markets. These latest investments bring the total number of deals from this fund to eight.

“These companies have in common strong growth fundamentals; they are the key beneficiaries of vibrant domestic growth stories in their respective countries,” Wayne Tsou, managing director and head of Carlyle Asia Growth Capital, said in a statement.

ATMU is the largest independent ATM operator in China. The company distributes and operates ATM machines across the country on behalf of banks in addition to developing management software for the machines. 

HKucar Global is an institutionalised nationwide used car dealership network with a close relationship with Hyundai-Kia Automotive Group. The company was spun-off from Hyundai-Kia Automotive Group in December 2006. Hyundai Motor Company and Kia Motors are minority shareholders of HKucar.

EO Technics is Korea’s only integrated laser engineering company and a manufacturer of self-developed micro-machining laser equipment for the semiconductor, liquid crystal display, printed circuit board and solar cell industries.