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Carlyle, Cerberus Cash Out In Asia

A couple of big private equity firms have made all the money they think they’re going to on a couple of Asian financial institutions.

Private equity firm Carlyle Group sold its remaining stake in China’s No.3 insurer CPIC in a deal valued at $793 million, exiting the business with its largest dollar profit on an investment.

Cerberus plans to reduce its stake to about 8% by offering shares in the open market, Aozora said, in a deal that would generate ¥158.1 billion ($1.8 billion) based on Monday’s closing price of ¥250 a share on the Tokyo Stock Exchange. That is on top of an estimated ¥100 billion Cerberus made from cashing out some of its stake at a much higher price in 2006, when Aozora’s initial public offering priced shares at ¥570.

As the Journal points out, Cerberus is just the lastest p.e. shop, among the hordes who descended on Japan back when it was showing us what a middle-aged decades-long recession looked like, to quit its Japanese bank habit. Lone Star and J.C. Flowers are still biding their time.

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9 Responses to “Carlyle, Cerberus Cash Out In Asia”

  1. Guest says:

    I really don't like you

  2. Figured it out says:

    Thanks Sha-Summly-zar!

  3. Quincy says:

    You shazarn't alright with me.

  4. CuzImAFrikan says:

    Nants ingonyama bagithi Baba!

    Translation:

    I just took a Shazat. Don't anyone go in there for 35-45 minutes.

  5. 4rd Grader on DB says:

    Shazars last gf name was Amanda Hugginkiss

  6. sohbet says:

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.

  7. sohbet says:

    probably do want to have some people around who can make investing decisions rather than just a bunch of ADD-addled

  8. Title Loans says:

    This is good news and should spark much confidence in the group as a whole. Consider this a large large victory in an uncertain time in our economy today.