Kunming Pharma, Ping An PE launch healthcare M&A fund
Shanghai-listed Kunming Pharmaceutical Corp. has partnered with a direct investment arm of Ping An Securities to set up a healthcare-focused M&A fund, with a target of RMB500 million ($80 million).
According to a regulatory filing, Kunming Pharma and its executives will commit RMB100 million to the Pharmaceutical Industry M&A Fund. Ping An Caizhi Investment Management, the direct investment arm, and its subsidiary Ping An Zhihui Investment will put in the same amount as Kunming Pharma.
While Ping An Zhihui will manage the fund's investments, Ping An Caizhi will raise the remaining RMB300 million from the market.
The fund will invest in pharmaceutical companies producing herbal and chemical drugs in the cardiovascular, neurological and anti-cancer segments. It will also target manufacturers of prescription and over-the-counter drugs, hospitals and medical devices.
Ping An Caizhi was created in 2008 after Ping An Securities gained approval from the Chinese Securities Regulatory Commission to set up a private equity fund. Ping An Caizhi is one of the three PE platforms under Ping An Group.
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