Carlyle Group (CG.O) has agreed to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency’s services.

Terms of the deal, which was first reported by the Financial Times, were not disclosed.

Carlyle is set to buy around half of the equity in GCR from its management founders and German development finance business DEG, which will remain invested in the company, Carlyle said.

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