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Carlyle in joint venture

Carlyle in joint venture

Write: Cathie [2011-05-20]

Investment firm Carlyle Group has set up a joint venture with maritime investment company Tiger Group to buy more than US$5 billion worth of shipping vessels.

Its aim is to invest US$900 million in the next five years to buy containers, dry bulk carriers and other shipping assets.

The new venture will work closely with Chinese shipbuilders, lenders and state-owned companies to increase cargo capacity.