CLSA launches $500m China growth fund
CLSA Capital Partners (CLSA CP) has launched a China growth fund focused on healthcare, smart manufacturing, renewable energy, tech-enabled media. The target is USD 500m.
CLSA CP describes the US dollar-denominated private equity fund as its flagship strategy for the market. It was launched in the second half of last year and has achieved a first close earlier this month, according to a source close to the situation. The amount raised has not been confirmed.
LPs represent Hong Kong and mainland China, as well as Singapore and other Asian jurisdictions. The GP has also made a commitment.
The fund will invest in a range of USD 10-50m, backing 15-30 companies in total. The first pipeline investments are currently in late-stage due diligence.
CLSA CP has around 70 professionals in offices across Hong Kong, Beijing, Shenzhen, Tokyo, Singapore, Seoul, Bombay, and London with about USD 7bn of assets under management. Its Shenzhen-headquartered parent, CITIC Securities, operates from 22 cities in Asia Pacific, Europe and the US.
Last September, CLSA CP closed its second Asia private debt fund at USD 500m, including a parallel co-investment vehicle. The firm closed its fourth Japan mid-market fund at USD 450m in 2020, although the Japan team is in the process of a staged spinout.
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