Carlyle backs Japanese noodle-maker

The firm has invested in The Oyatsu Company  from its third Japan-focused fund.

The Carlyle Group has invested an undisclosed amount in Japanese noodle-maker The Oyatsu Company, describing the transaction as a business and strategic tie-up, according to a Japanese language statement.

Oyatsu manufactures food products, including popular noodle brands such as Baby Star Ramen, supplying supermarkets and convenience stores in Japan.

With Carlyle’s help, the company hopes to expand into the overseas market, as well as use the private equity firm’s experience in the consumer goods sector.

Carlyle, which declined to comment on the financial details of the transaction, is investing from its Carlyle Japan Partners III fund, a $1 billion vehicle currently in the market.

Carlyle also declined to comment on fundraising, however Private Equity International reported earlier that the fund made a first close in August last year at an undisclosed amount. The vehicle is yet to make a final close – expecting to do so by the end of the year, David Rubenstein, co-chief executive officer of Carlyle and head of its fundraising activities, said on an earnings call in February.

Carlyle, which was named the biggest firm in the world by PEI last month – topping the PEI 300, which measures GPs by funds raised over a five-year period – had also raised $1.58 billion toward its $3.5 billion Carlyle Asia Partners IV as of January.

Its predecessor Asia fund, the $2.55 billion Carlyle Asia Partners III, which has a 2008 vintage fund, moved into a full accrued carry position in 2013, the firm said.