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Mandarin Capital to launch $1.4b second fund

  • Susannah Birkwood
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Sino-European private equity firm Mandarin Capital Partners has announced plans to launch a $1.4 billion fund in 2012 to allow Chinese firms to make overseas acquisitions.

Modeled after the investor's maiden fund, which was established in 2007, this second vehicle will continue to invest in Mandarin's core geographies of China and Italy, as well as expanding its target base to include companies located in Europe and the US.

Founding partner Alberto Forchielli told Reuters the fund will establish offices in Germany and Boston, and will track opportunities in the fashion, pharmaceutical, fine-chemistry and oil and gas equipment industries.

Mandarin's first vehicle is on course to be fully invested by April. It counts the China Development Bank and the Export-Import Bank of China among its LPs.

This news comes after Mandarin acquired a 70% stake in Italy-based Italmatch Chemicals last December. The chemicals group was bought from World Chemicals, a portfolio company of southern European private equity firm Investindustrial.

Mandarin sees the chemicals sector as a strong niche with stable margins, and is assisting Italmatch in pursuing its development strategy in the Asian and US markets.

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