Global alternative asset manager The Carlyle Group, pan-emerging markets private equity firm Actis, global venture capital firm Sequoia Capital and the Government of Singapore’s sovereign wealth fund GIC have agreed to exit China-based Keystone Lodging Holdings, parent of hotel company 7 Days Group, in the company’s acquisition by China-based hotel company Shanghai Jin Jiang International Hotels. Jin Jiang will acquire an 81 percent stake in Keystone for RMB8.3 million (approximately US$1.3 billion), at an enterprise value of RMB10.8 billion (approximately US$1.7 billion). Carlyle will sell a 22.1 percent stake, Actis will sell 13.9 percent, Sequoia will sell 15.7 percent and GIC will sell 4.4 percent. The transaction is pending shareholder and regulatory approval.