Industry Newsroom

Carlyle Divests USD127 Million Stake in China

Global alternative asset management firm The Carlyle Group has sold part of its stake in Hong Kong Stock Exchange-listed China Literature, an online literature platform, for HKD994 million (approximately USD127 million). The company offers more than 11 million books to the more than 200 million monthly active users on its platform. Carlyle, which originally invested in China Literature in 2014 through Carlyle Asia Partners IV, retains a 4 percent stake in the company.