Carlyle to buy South Africa's Global Credit Ratings

MarketsReuters

Carlyle Group has agreed to acquire Johannesburg-based ratings agency Global Credit Ratings (GCR), a spokeswoman for the U.S. buyout fund said on Tuesday.

Continue Reading Below

Terms of the acquisition, which was first reported by the Financial Times, were not disclosed.

Carlyle raised $698 million for its Africa buyout fund in 2014, exceeding its $500 million target.

In November, Carlyle, which has $169 billion of assets under management, agreed to acquire a majority share of CMC Networks, a pan-African telecommunications business.

In September, it agreed to buy a majority share of Amrod, a supplier of promotional products and clothing in South Africa and neighboring countries.

(Reporting by Dasha Afanasieva; editing by Jason Neely)