CICC set to make RMB1.5b first close on new fund
China International Capital Corporation (CICC), the country’s largest investment bank, is set to announce the RMB1.5 billion ($231.5 million) first close of its new renminbi-denominated fund this week, a source close to the process confirmed to AVCJ. The fund’s full target is RMB5 billion ($771.7 million).
According to a source, large state-owned enterprises such as China's Social Security Fund and the China Development Bank are considering investing in the vehicle. In addition, Jiangsu Yanghe Brewery Joint-Stock...
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