COFCO, PE-backed fund to launch in China
COFCO, touted as the largest oils and food importer and exporter in China, announced that it last month formed its COFCO Agricultural Industry Fund Management Co., a PE manager targeting PRC agriculture investments. Its initial fund has a corpus of between RMB1.5 billion and RMB 2 billion ($230 million and $305 million), though the COFCO Agricultural Industry Fund Management hopes this will grow to RMB5 billion to RMB6 billion ($766 million to $920 million) in the coming years.
The fund will be managed by an entity called The Fund Management Co., which reportedly has four shareholders: COFCO Trust Co., which holds a 50.02% stake in the outfit; Louis Dreyfus, a French grains trader;...
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