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$CG Raises $796 Million in Pacific Insurance Group Sale

Carlyle Group LP (CG) raised about $796 million from the sale of its remaining shares in China Pacific Insurance (Group) Co. (2601), cementing profits from its largest investment in China as the firm raises money for its biggest Asia buyout fund.

The Washington-based private-equity firm sold almost 204 million shares, a 2.2 percent stake, in the Shanghai- headquartered insurer at HK$30.30, the top end of the offering range of HK$30 to HK$30.30 apiece, according to a document obtained by Bloomberg News. China Pacific fellby the most in more than a month after rising 23 percent since Dec. 3 amid a surge in Chinese stocks…”

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