Carlyle Group invests in Turkey

Posted on: July 18, 2008

Written by Select Property

The Carlyle Group will invest in Turkey , and plans to buy stakes in 2-3 more companies by the end of 2009, the private equity company's general manager for Turkey announced. Carlyle has acquired a 50 percent stake in ship builder TVK Gemi Yapim, its first investment in Turkey.

"We can easily complete 2-3 investment projects in the next 18 months. These could be companies operating in health, logistics, transport and non-food retail sectors," the general manager said. He forecasts private equity investments in Turkey rising in the coming years. "Under the current circumstances, there's no reason why Turkey should not attract $3-5 billion private equity investments from 2009 annually," he said.

Carlyle, which has assets worth $82.7 billion globally, did not set up a separate fund for its first investment in Turkey as it has a global fund worth $35 billion to finance such investments.

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