State banks launch Sino-French fund
The role of Chinese PE firms in outbound investment is poorly defined: In the absence of clear guidelines, participants must win approval from every single regulator. One way to avoid the red tape is by partnering with a government-backed entity, which usually has little problem getting the green light for deals.
Cathay Capital, a Sino-French private equity firm, has been appointed to manage a EUR150 million ($189 million) joint venture fund between China Development Bank (CDB) and French state-owned bank Caisse...
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