Global private equity and venture capital news and research

Carlyle picks up stake in Chinese cemetery service giant ahead of $215m IPO

10 Dec 2013

cross grave funeralUS alternative asset house Carlyle has reportedly bought $45m of shares in China’s largest cemetery and funeral services provider alongside hedge fund Farallon Investors and China Cinda.

Carlyle has picked up $25m of shares in Fu Shou Yuan according to an IPO prospectus, while Farallon has picked up $10m and Chinese bad-debt giant China Cinda $10m.

The company is preparing to launch a $215m IPO on the Hong Kong Stock Exchange, offering 500 million shares for between HK$2.88 and HK$3.33 each.

Reuters said that burial services, which include tomb sales that have no price controls, are the fastest growing and biggest segment of the industry, expected to rise 17.9 per cent a year through 2017.

Fu Shou Yuan’s Shanghai cemetery charges up to 500,000 yuan for a six-by-six metre plot, tombstone and associated services, it added.

Copyright © 2013 AltAssets

AltAssets Mobile App

To access the latest private equity news and stories download the new AltAssets mobile app from the

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2015