China Everbright-Macquarie infra fund makes first investments

The fund, which raised $729 million in 2011 and is in its second tranche of fundraising, has invested $100 million to become the second-largest shareholder in Zhejiang Wanna Environment Protection. The five year-old company has eight waste incineration power plants and projects.

The other investment was in a Shenyang-based water supply project, Yin Lian Chen, China Everbright's CIO, told Dow Jones Newswires.

Established in 2011, the Greater China Infrastructure Fund focuses on the toll road, airport, renewable energy, waste-water management, and port and rail sectors. It plans to invest in companies through minority stakes or buyouts with a minimum ticket size of $50 million.

Capital has been raised from global international institutional investors in Europe, North America and Asia including PGGM, the second largest pension asset manager and pension administrator in the Netherlands, and the Korean Teacher's Credit Union, Korea's second-largest pension plan.

Macquarie and China Everbright have each committed $50 million, and the fund will have access to $250 million for co-investments.

China Everbright manages a total of nine private equity and venture capital funds in both renminbi and US dollar. Assets under management funds total HK$20 billion ($2.58 billion).

 

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• Topics
• Greater China
• Infrastructure
• Infrastructure
• Macquarie Group
• China
• China Everbright
• Infrastructure