Value Partners to form RMB fund in Yunnan province
Value Partners Group Limited, a Hong Kong-based alternative asset investment firm with both private equity and hedge fund strategies, has reportedly signed an agreement to establish a renminbi-denominated private equity fund in partnership with Yunnan Industrial Investment Holding Group Ltd.
Under the terms of the arrangement, Value Partners will take a 60% stake in the fund while the remaining will be controlled by Yunnan Industrial.
The fund is targeting RMB150 million ($22 million), which will be earmarked for enterprises in the Yunan Province that are close to IPO. According to a press release issued by Value Partners, companies in other mainland provinces, and those operating in industries like new energy, mineral resources, consumer goods, bio-pharmaceuticals, financial services, education, culture and tourism, commerce and trade, and equipment manufacturing would be target for investments.
To operate investment activities, the new fund will recruit a private equity management team. Yunnan Industrial Investment is a large state-owned provincial private enterprise engaged in stated-owned capital investment. It was previously named Yunnan State-Owned Assets Operation Company Limited. The company was jointly established in 2008 by State-owned Assets Supervision and the Administration Commission of Yunnan Provincial Government, alongside large industrial groups.
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