China Everbright, Catalyst Equity to launch Israel-focused fund
China Everbright, an investment arm of Chinese conglomerate China Everbright Group, and Catalyst Equity Management, an Israeli-based private equity firm, have teamed up to establish a PE fund that will invest in Israeli companies.
The fund, managed by a jointly owned asset management company, is seeking to raise $200 million with the option of going up to $300 million, according to a statement. A first close is expected in the first week of January, with China Everbright committing up to $75 million as seed capital.
The fund will focus on mid-to-late stage companies with proven innovation and global presence, and a desire to expand in the Greater China market. Sectors of interest include agro-tech, energy, industrials and manufacturing, healthcare, water, media, and telecom.
"China can offer much more in terms of ample supply chain resources and potential listing venues to international firms," said Chen Shuang, China Everbright's CEO and executive director. "China's outbound investment has been growing fast in the recent years but is still at a very low level compared to the size of the Chinese economy."
Edouard Cukierman, chairman of Catalyst Equity, said that China is a natural market with enormous demand for all that Israel has to offer.
With over $200 million in assets, Catalyst provides capital to support the long-term growth and international expansion of Israeli middle-market companies.
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