CDH IV final close at $1.46 billion
CDH Fund IV, the China-focused private equity fund regarded by many as a bell-wether for capital-raising exercises for the PRC, has closed at $1.46 billion, according to information given to AVCJ.
The nominal final closing date for the fund, backed by PRC buyout firm CDH Investments Management, was mid-April, but as usual with fundraisings, final legal documentation delayed the formal announcement. The final result confirms reports that the raising was oversubscribed, but only by slightly above its nominal $1.4 billion target. CDH IV was known to have been one of the key targets for international LPs seeking exposure to China. However, the final result was still under the closing level of CDH Fund III, which closed at $1.6 billion.
LPs in the new fund include the Canada Pension Plan Investment Board (with $150 million), Industriens Pensionsforsikring, Texas County & District Retirement System ($30 million), the Washington State Investment Board ($25 million), and the University of Michigan ($10 million).
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