HONG KONG — personal-fairness agency general Atlantic mentioned it has employed a senior Carlyle staff LP deal maker to steer its China operations.
Eric Zhang was once named a managing director and head of China at basic Atlantic after a decade as a part of the Carlyle China crew. Zhang left Carlyle team CG, -zero.74% , the place he was a managing director, in may just, in line with his LinkedIn profile. He serves on the boards of China’s largest on-line labeled web site 58.com Inc. WUBA, -5.forty% and chinese real estate portal SouFun Holdings Ltd. SFUN, -eight.09% each of those firms are listed on the brand new York stock trade.
China’s know-how sector has grown hastily in latest years as chinese language shoppers abruptly undertake smartphones and spend extra money online. The success of e-commerce companies like Alibaba workforce preserving Ltd. BABA, -zero.88% and their early traders has brought on more bets on the following generation of chinese startups.
started in 1980, general Atlantic has been an incredible investor focusing on boom companies, including startups, globally. remaining yr, it was once one of the vital corporations that led a $ 1.5 billion investment in dwelling-apartment carrier Airbnb Inc. that valued the company at $ 25.5 billion. inside China, normal Atlantic made a reputation for itself by way of being part of a consortium that invested $ 350 million in Lenovo staff Ltd. 0992, -zero.85% , helping to finance the chinese computer maker’s purchase of global business Machines Corp.’s IBM, -0.40% pc unit in 2005. because it started out making China investments in 2000, basic Atlantic has put $ 1.5 billion into 17 firms.
An elevated version of this file appears on WSJ.com.
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