FountainVest reaches first close of $1b on second China fund
FountainVest Partners has reached a first close of just over $1 billion on its second China-focused fund. The vehicle has only been in the market for about four months, but it is already nearing its full target of $1.25 billion. Sources familiar with the fundraising process told AVCJ that the final figure could be as high as $1.35 billion.
Existing investors account for the bulk of capital accumulated for the first close. Ontario Teachers' Pension Plan (OTPP), Canada Pension Plan Investment Board (CPPIB) and Temasek Holdings were the anchor...
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