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Carmela Mendoza

Carmela Mendoza is a senior reporter for Private Equity International based in London. She first joined PEI in Hong Kong in 2015 and covered Asia. A graduate of Ateneo de Manila University, she previously worked for a digital agency in Singapore focused on government websites and publications covering business, trade and industry, transport, and social development.
An investor consortium which includes The Carlyle Group, Chinese conglomerate CITIC Limited and its investment unit CITIC Capital Holdings has bought the Hong Kong and China businesses of McDonald’s for $2.08 billion.
The $130bn Canadian pension fund is optimistic that recent structural reforms in these two countries will unleash new sources of investment.
Chinese buyers have snapped up more than $100bn in overseas assets this year and participants in sister publication PEI’s Asia roundtable say the appetite for foreign deals is set to grow.
Paul Yang’s appointment comes barely a month after KKR expanded its Asia-Pacific senior leadership team.
The deal marks the Sydney-based private equity firm’s fourth investment from the A$180m Allegro Fund II, which is about 40 percent deployed.
The firm has raised $264m for its latest vehicle, which will invest in agtech, healthcare, advanced manufacturing and transport companies in the US and Europe.
The Mauritius-based firm has already made three investments in India from the food and agri fund.
Guangshao Tu, a known reformer who was previously asked to lead the entire organisation, has joined as the sovereign wealth fund increases its focus on agriculture.
The US-based firm continues to see opportunity in Asia’s rising middle class and its growing demand for safer, healthier food, co-founder Henry Kravis said.
The firm made its first direct investment in Indonesia in May, snapping up a feed manufacturer.

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