
Hony's second RMB fund targets Chinese firms' overseas aspirations
One month after Chinese buyout major Hony Capital announced that it would raise an RMB10 billion ($1.5 billion) yuan-denominated fund – it’s second – the Beijing-based firm has confirmed that the fund will target PRC companies looking to ramp up exposure and operations overseas via mergers and acquisitions.
Hony has raised RMB7 billion ($1.05 billion) for the fund to date. According to the firm, Hony initially targeted a hard cap of RMB8 billion ($1.2 billion), yet its initial close prompted Hony to increase...
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