Chinese PE firm secures local pension fund tie-up

The Evergreen International Health Care City project, managed by Evergreen Fund, a wholly-owned pension fund of CSWF, aims to establish home care facilities - such as hospitals, libraries, and healthcare centers - for retirement groups in China.

CSWF has picked Jiangjin District, a remote area in the city of Chongqing, as the first location to develop these facilities. It will soon expand into provinces such as Guangxi, Jiangsu, Hubei and Jiangxi.

CTWC will be responsible for fundraising for the Evergreen International Health Care City project.

This is the first time that private equity firm has been allowed to participate in a Chinese pension fund's project, according to CTWC.

"CSWA now sits on the decision-making committee of CTWC; we expect CSWA to allocate part of its assets to these projects via its Changqing Fund (Evergreen Fund)," according to advisory firm Z-ben.

Authorized by the Ministry of Civil Affairs of China, CSFW manages over 60 social funds to support education, green technology, agricultural, culture and media industries.

Founded in 1980, China Treasury Wharton operates private equity, private banking and commodity investment businesses.

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