<article>Private equity major <a style="color: #000080;" href="http://www.carlyle.com" target="_blank">Carlyle Group</a> is no longer part of the board of Singapore-listed industrial fishing company, <a style="color: #000080;" href="http://www.chinafisherygroup.com/" target="_blank">China Fishery Group</a>.</article>

Private equity major <a style="color: #000080;" href="http://www.carlyle.com" target="_blank">Carlyle Group</a> is no longer part of the board of Singapore-listed industrial fishing company, <a style="color: #000080;" href="http://www.chinafisherygroup.com/" target="_blank">China Fishery Group</a>.
Carlyle had recently declined to take part in China Fishery Group’s rights issue, and this had led to the private equity firm’s stake in the fishing company being reduced to 6.2 per cent from 11.1 per cent earlier.
This development comes even as China Fishery is being investigated by the regulators &#8211; <a style="color: #000080;" href="http://www.mas.gov.sg/" target="_blank">Monetary Authority of Singapore</a> and white-collar crime busters Commercial Affairs Department &#8211; for an offence under the Securities and Futures Act.
On August 21, shares of China Fishery Group, fell more than 50 per cent, after news broke that the company was under investigation in Singapore and Hong Kong. A recent Bloomberg <a style="color: #000080;" href="http://www.bloomberg.com/news/articles/2015-08-26/singapore-s-out-of-sync-bonds-create-a-china-fishery-pricing-gap" target="_blank">report</a> said the probe into China Fishery Group Ltd for a securities offense had wiped out some $600 million from group shares and its US currency bonds.
China Fishery Group, in a regulatory filing on Monday said that Carlyle’s Patrick Siewert has stepped down as non-executive director of the company with effect from 29 August, 2015.
Siewert had represented the interests of CAP IIIA, a fund managed by the Carlyle Group, on China Fishery Group&#8217;s board.
Caryle’s stake in China Fishery was through CAP III-A.
“Siewert advised the board that, given the reduced size of CAP III-A’s investment in the company and competing commitments on Mr Siewert’s time, the Carlyle Group did not consider that continuing representation on the company’s board was warranted. As a consequence of Mr Siewert’s resignation, the appointment of Ms Janine Feng Junyuan as his alternate director also ceases,” China Fishery’s <a style="color: #000080;" href="http://infopub.sgx.com/FileOpen/CFGL_MediaRelease.ashx?App=Announcement&amp;FileID=367833" target="_blank">regulatory filing</a> said.
China Fishery shares closed at 5.9 Singapore cents on Friday.
Also Read: <a style="color: #ff0000;" title="Singapore’s China Fishery to raise $296.5m via rights issue" href="http://www.dealstreetasia.com/stories/china-fishery-raise-296-5m-via-rights-issue-2934/" rel="bookmark">Singapore’s China Fishery to raise $296.5m via rights issue</a>

Private equity major Carlyle Group is no longer part of the board of Singapore-listed industrial fishing company, China Fishery Group.

Carlyle Group exits China Fishery board

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Carlyle Group exits China Fishery board

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