Clifford Chance was the lead legal counsel of The Carlyle Group in its recent investments in two of China’s most prominent fintech companies. The American investment giant, with more than US$200bn in assets under management, subscribed to the Series C preference shares of Ant International and invested US$1.9bn into Du Xiaoman, also known as Baidu FSG. Ant International is a wholly owned subsidiary of Ant Financial. Financial details of the subscription were not disclosed, but the investment is part of Ant Financial’s equity financing totalling US$14bn.
China asset management giant the Carlyle Group has invested in two major Chinese fintech firms. The company subscribed to the series C preference shares of Ant International, a subsidiary of Ant Financial. Financial details of that investment have not been revealed. It also backed loan and investment services firm Du Xiaoman, also known as Baidu FSG, to the tune of $1.9bn.