CDB forms $189m cross-border fund with France
China Development Bank (CDB) has teamed up French state-owned bank Caisse des Dépôts to create a EUR150 million ($189 million) fund to promote the international expansion of French and Chinese small- and medium-sized enterprise (SMEs). Each party will commit EUR75 million to the vehicle, which will be managed by Cathay Capital, a Sino-French PE firm focuses on cross-border growth deals.
The fund will invest equally in French and Chinese companies with annual turnover of EUR10-200 million. CDB and Caisse des Dépôts will commit their capital through subsidiaries CDB Capital and CDC...
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