By Chibuike Oguh

NEW YORK (Reuters) – Carlyle Group (NASDAQ:) Inc Chief Executive Kewsong Lee said on Wednesday that the U.S. private equity firm will remain a long-term investor in China despite “bumps” that have unnerved some investors.

Beijing authorities have put restrictions in place over the past few weeks for companies involved in technology, in order to manage big data and end monopolistic practices. The authorities launched an investigation into Didi Global Inc. They also ordered that its apps be removed from China’s mobile devices. This was just days after Didi Global Inc went public in New York.

The crackdown has sparked investor concerns over policy changes and wiped off hundreds of billions of dollars in market value from some of China’s largest companies including Alibaba (NYSE:) Group Holding Limited and Tencent Holdings (OTC:) Ltd. Investor concerns this week that property developer China Evergrande could default on its massive debt pile have added to the market jitters.

Lee, a Carlyle executive who was asked questions about China’s restrictions to companies said that “We at Carlyle have been very strategically committed to that area and we have witnessed these kinds of bumps mid-night in that region of the world.”

Lee indicated that China is the second-largest country in the world and that many sophisticated investors, such as pension plans or sovereign wealth funds, are not investing enough. However, there are still plenty of opportunities for local investment firms like Carlyle, which can help navigate China’s regulatory landscape.

Carlyle’s $276bn in assets was at its end of June. Lee indicated that it is continuing to focus on China’s rise in consumers, Chinese tech firms and the under-resourced healthcare sector.

Lee spoke out about the push toward sustainability and good corporate governance. He said that nearly 60% of directors joining companies managed by Carlyle over the past two years came from different backgrounds. This puts Carlyle ahead of the 30% goal.

If a company’s track record is good enough, even businesses that are contributing to climate change could be ESG investments.

“It is important that people understand that it is necessary to make capital investments in established companies, to support their transition.” he stated.

Lee implemented changes in Carlyle to increase its fee-related earnings, and raise the shares price. Carlyle has seen double its value over the last twelve months. His firm’s strategic plan had been paying dividends, with the company’s investment speed increasing and the rate of raising capital rapidly increasing. Performance fees have also reached a new record.