China’s Fosun nears first close on $1b outbound fund
Fosun International is targeting $1 billion for its Chinese Momentum Fund that will invest in foreign companies seeking to expand in China, with a particular focus on Europe. The fund is approaching a first close in excess of $300 million, AVCJ has been told, after which it will commence investment.
According to The Wall Street Journal, Prudential Financial is among the investors in the fund. Fosun formed a life insurance joint venture with Prudential in 2011 and set up a $600 million private equity...
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