SINGAPORE, June 29 - Carlyle Group, one of the world's biggest private equity investors, will invest $190 million in Singapore-listed China Fishery <CNFG.SI> to help the latter expand its business.

China Fishery, which operates fishing fleets in the Pacific, said on Tuesday it will issue 113.5 million new shares and 26.67 million warrants to Carlyle under an agreement that will see the U.S. investor take a stake of up to 13.6 percent in the Chinese firm.

The new shares will be issued at S$1.85 each, while each warrants can be converted to a new China Fishery share at an exercise price of S$2.10.

China Fishery shares closed 1.1 percent lower at S$1.83 on Tuesday.

"The investment is an endorsement of our business strategy and our strong position in the fishing industry, as well as recognition of the growth prospects of the industry," Group Managing Director Ng Joo Siang said in a statement.

China Fishery catches and processes fish for customers around the world. It also operates along Peru's coast where it catches anchovies and processes them into fishmeal.