Hong Kong, August 2008 -- AIF Capital, one of the largest Asia-based independent private equity firms, is pleased to announce that AIF Capital Asia III, L.P. has invested US$20 million in Charm Communications Incorporation (“Charm”) of China.
Charm is a leading integrated television advertising services provider and a pioneer in the securing of media resources on nationwide television stations and multiple regional/satellite channels in China. The company provides one-stop advertising solutions, which include market research, branding strategies and creative design, and acts as a media consultant to its exclusive television channels.
Charm, whose long-term and successful relationship with China’s single largest national television network China Central Television (CCTV) makes it the advertising service provider of choice, also stands to benefit from the nation’s enormous and fast-growing advertising industry.
Besides CCTV, Charm also has exclusive agreements for the securing of all advertising slots on Shanghai Dragon Television, which is poised to emerge as an influential satellite television channel in China, and Hubei Satellite Television.
“Our investment in Charm reflects AIF Capital’s confidence in China’s economy and advertising industry,” said Peter Amour, AIF Capital’s Chief Executive Officer. “Charm’s reputation and market position is expected to propel the company to greater heights and we are excited to be working closely with the company to achieve greater success.”