Mercurius Capital launches $80m PE fund with Chinese firm
Mercury Capital Investment, a subsidiary of Singapore-listed Mercurius Capital Investment, has teamed up with a Chinese real estate developer to launch a RMB500 million ($80 million) PE fund targeting urbanization projects in China.
Sichuan province-based S-Hyland Group has committed RMB300 million to the fund, Mercury will raise the remaining RMB200 million from other investors. They will manage the fund jointly.
It is estimated that about 60% of Chinese nationals will be living in urban areas by 2020. Mercury and SHG want to capitalize on this trend by investing in urbanization and development-related products in the third- and fourth-tier Chinese cities, according to a press release.
Separately, Mercury has partnered with Shenzhen Oriental Harbor Investment Management (OHM) to launch an investment platform to make cross-border investments within Asia. OHM backs domestic and overseas companies across the consumer, healthcare and renewable energy spaces.
In addition, Mercury signed a helicopter-leasing agreement with Tianhe General Aviation to provide lifting services to companies in China that require the transportation and installation of heavy equipment. It also intends to set up a $300 million investment fund that will target solar energy projects in the Caribbean.
"Leveraging the low production and installation costs of solar PV systems in China, Mercury continues to explore strategic partnerships with leading industry players and major manufacturers from China of solar power systems to collaborate on more solar projects in the Caribbean region," the firm said in the release.
Mercurius started out in the kids fashion business under CCFH, formerly Friven & Co. Two months ago, it announced it plans to diversify into asset management in China through the acquisition of Mercury Capital and rebranded itself as Mercurius.
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