• 08 Jan 2013 at 1:24 PM

Carlyle, Cerberus Cash Out In Asia

By Jon Shazar

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.

Comments (7)

  1. 1
    Posted by Guest | January 8, 2013 at 1:36 PM

    I really don't like you

  2. 2
    Posted by Figured it out | January 8, 2013 at 1:36 PM

    Thanks Sha-Summly-zar!

  3. 3
    Posted by Quincy | January 8, 2013 at 2:01 PM

    You shazarn't alright with me.

  4. 4
    Posted by CuzImAFrikan | January 8, 2013 at 2:53 PM

    Nants ingonyama bagithi Baba!

    Translation:

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

  5. 5
    Posted by Bored Guest | January 8, 2013 at 3:04 PM

    Bilingual, a Shazar burn, and a Friday reference. Pure gold – Shazar take notes.

  6. 6
    Posted by 4rd Grader on DB | January 8, 2013 at 4:22 PM

    Shazars last gf name was Amanda Hugginkiss

  7. 7
    Posted by sohbet | May 12, 2013 at 6:35 PM

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