The Carlyle Group has sold shares of China Pacific Insurance Company (CPIC), equivalent to a 9.6 percent stake, for HKD5.64 billion (approximately US$727.9 million) through an open market transaction on the Hong Kong Stock Exchange. The shares were owned by Carlyle Asia Partners (CAP), The Carlyle Group’s Asia-focused fund, which first invested in CPIC in 2005. The transaction marks Carlyle’s fifth exit from CPIC since December 2010, with cumulative returns to date of over US$4 billion.