China's Capital Today targets evergreen fund
China-focused private equity firm Capital Today is seeking to raise an “evergreen” fund with an lifespan far longer than the industry standard 10 years, whereby funds usually enter the exit phase in year three.
Several investors told AVCJ that Kathy Xu, Capital Today's founder, had raised the prospect of an evergreen structure. According to a term sheet seen by Reuters, the fund is targeting $400 million and...
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