The Carlyle Group's 17 percent stake in China Pacific Insurance is poised to haul in a whopping $4 billion in returns from an expected initial public offering, according to a report.
Washington, DC-based Carlyle pumped about $800 million into China's No 3 life insurance company from 2005 to 2007, according to the Reuters report.
The investment returns, morer than six times what Carlyle put down, would come if China Pacific prices its planned IPO at the high end of the offering range.
Among private equity firms, Carlyle's IPO exit would mark the largest to date in China, according to the report, and provide the latest evidence as to why money managers have been scrambling into China.
The China Pacific initial public offering is expected to go out on Hong Kong exchanges before Christmas and would become the sixth largest in the world for the year.