Capital from the investors will be used for operational improvements and further acquisitions.
The investment in Minsheng Group comes on the heels of its proposed $25m investment to Carlyle Asia Growth V.
The global private equity firm has completed the $4.5bn takeover of Calsonic Kansei and the $1.3bn acquisition of Hitachi Koki.
The Japanese company has lined up its second tech-focused deal from its $100bn fund, following an investment earlier this month in satellite operator Intelsat.
The investment comes nearly a year after AION Capital Partners acquired GE Capital’s lending business for over $300m.
The consumer-focused mid-market firm recently completed its acquisition of Innovalues for $240m.
Capital from the Hong Kong-based firm will be used to open another 100 car auction outlets.
The acquisition of insurance company USI is part of a partnership between the two firms to target longer-duration and lower risk investments in businesses with stable recurring revenue.
Fierce competition and a limited supply of high-quality targets has seen a record-setting rise in the average EBITDA-to-enterprise value for private equity transactions in the region.
UK mid-market firm Phoenix had struggled to sell the company after 14 years of ownership.
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