Renminbi fund
China Life injects $315m into CITIC PE's RMB fund
China Life Insurance has injected RMB2 billion ($315 million) into CITIC Private Equity's renminbi-denominated fund. It comes after the insurance giant invested RMB1.5 billion in Hony Capital's most recent vehicle, a source close to the fundraising activity...
Foreign RMB funds at a crossroads
Apparent confirmation that foreign-invested renminbi funds can’t qualify for local treatment has left the leading overseas private equity firms in a quandary. Life has become harder, but all is not lost
Bridging the gap: China fund T&Cs
Differences between the Chinese and US private equity markets are reflected in fund terms and conditions. LPs that back managers operating US dollar and renminbi funds should look carefully at the small print
Foreign RMB funds to be classified as overseas entities
China’s National Development and Reform Commission (NDRC) has decreed that all the capital in renminbi-denominated funds raised by foreign PE firms must come from local investors if they are to be considered domestic entities. Failure to comply means...
IDG Capital Partners raises $571m RMB fund
IDG Capital Partners has reached a final close of RMB3.6 billion($571 million) for its Harmony Capital Fund, which will target innovative companies in Beijing technology hub Zhongguancun.
China rolls out $8b fund to back outbound investments
China has launched a RMB50 billion ($8 billion) fund in Shanghai to aid overseas acquisitions by Chinese companies. The fund, which is the largest international renminbi-denominated vehicle ever created, has already raised RMB12 billion.
China Development Financial targets RMB fund
Taiwan-based China Development Financial Holding (CDFH) plans to launch a renminbi-denominated private equity fund as part of efforts to expand its asset management business in China.
Foreign RMB funds suffer from LP access troubles
With state-backed firms hesitant to commit and wealthy individuals unreliable, overseas private equity firms face a long slog to raise their renminbi funds
Slow progress for foreign RMB funds
Renminbi-denominated private equity funds have been one of the most important trends in the last few years. The market has grown tremendously with more than US$24 billion being raised in 2011 alone. Most of this capital has gone to local firms, especially...
TPG reaches first close of its two RMB funds
TPG Capital has reached a first close of its two China funds, having received commitments of RMB4 billion ($635 million). The private equity firm said that 90% of the capital raised came from private investors rather than government-linked entities. It...
Hony’s bumper raise sparks concerns about China fund sizes
How much is too much? Hony Capital set the benchmark for the string of large China-focused funds expected to launch in the next year or so as it closed its fifth vehicle at $2.4 billion. Hony Capital Fund V took barely four months to complete its fundraising,...
China targets illicit PE fundraising
Horror stories of individual investors being talked into committing capital to suspect private equity funds have prompted regulatory intervention in China. But progress is slow and the road is long.
Hony Capital raises $4b for new USD, RMB funds
Beijing-based Hony Capital, one of China’s largest private equity firms, has raised close to $4 billion from investors for two separate vehicles, both double the size of their respective predecessors.
Nomura enters China’s PE space
Nomura Holdings has become the first Japanese financial services company to invest in Chinese private equity, after agreeing to participate as an LP in the Shanghai-based Jiu You Quan Xing Equity Investment Fund. The vehicle, which is managed by Jiu You...
Nomura becomes first Japanese firm to invest in Chinese private equity
Nomura Holdings said it would become the first Japanese financial group to make private equity investments in China, having reached an agreement with Shanghai-based Jiu You Quan Xing Equity Investment Fund. This follows the bank winning approval to participate...
H&Q to launch first renminbi fund
H&Q Asia Pacific is looking to tap Chinese institutions and individuals as LPs for its first renminbi-denominated fund.
J.P. Morgan gets green light for $1b RMB fund
J.P. Morgan Asset Management has reportedly won approval from the Beijing government to launch a $1 billion renminbi-denominated fund.
Chinese regulators poised to clamp down on illegal fundraising
China’s National Development and Reform Commission is looking into domestic private equity firms’ fundraising operations with a view to tightening regulatory oversight on the sector.
RMB fund vs. USD fund issue losing importance - AVCJ Forum
The internationalization of the renminbi is rendering the US dollar fund versus renminbi fund debate increasingly irrelevant, according to panelists at the AVCJ Investment Summit on Thursday.
GPs highlight merits of differentiation – AVCJ Forum
General partners stressed the need for differentiation in devising strategies to capitalize on private equity growth in Asia Pacific.
Blackstone sees opportunities in China's 'economic dislocations'
China’s slowing GDP growth should create “economic dislocations” that translate into acquisition opportunities for foreign investors, according to Stephen Schwarzman, chairman and CEO of The Blackstone Group.
Blackstone raises half its $781m RMB-denominated fund
Blackstone Group has reached the halfway point in fundraising for its RMB5 billion ($781.3 million) debut renminbi-denominated fund, said Michael Sotirhos, senior managing director at the buyout firm.
Citic Private Equity targets $1.9b RMB fund
Citic Private Equity Funds Management, the PE unit of Citic Securities, has launched its third private equity fund and is aiming to raise RMB12 billion ($1.9 billion). It is expected to target industries including financial services, retail, pharmaceuticals,...
Hudson plans largest RMB clean energy fund
Renewable energy-focused buyout firm Hudson Clean Energy Partners is targeting China in a big way, announcing that it will raise the largest renminbi-denominated fund dedicated to green energy. The New Jersey-based firm did not disclose its targeted corpus,...