Carlyle-backed Chinese display advertising business Focus Media could hold a $1bn IPO in Hong Kong next year despite only being delisted from the Nasdaq last summer.
That MBO was the biggest to ever happen in China at $3.7bn, and also featured backing from Chinese state-funded investor CITIC, private equity firm FountainVest Partners, CDH Investments and China Everbright.
No banks have been formally mandated to run the IPO according to Reuters, which reported the potential listing by citing sources familiar with the plans.
The buyout deal for Focus included $1.5bn of debt provided by Bank of America, Deutsche Bank, Credit Suisse and UBS among others.
Carlyle’s annual report revealed last week that the listed firm pulled in almost $12bn of new private equity capital in 2013 to bring its total buyout assets under management to $64.9bn.
That AUM was up 22 per cent compared to the fourth quarter of 2012, with fundraising being driven by a string of global vehicles.
Carlyle highlighted the final close of its latest US buyout fund and additional closings of its Asia, Europe, Japan and sub-Saharan Africa vehicles and various co-investments.
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