Renminbi fund
3i plans RMB fund under Queen's blueprint
UK private equity major 3i Group is planning to launch a renminbi-denominated fund as part of an overall two-year plan, announced 3i CEO Michael Queen, coming alongside the second Indian infrastructure fund expected since March this year.
China private equity shooting for world No.1?
PRC to surpass US PE market size – or will it?
China reshapes the world?
China's rise to private equity superpower status is the subject of much comment in AVCJ lately and elsewhere; but one less immediately obvious implication is the prediction made by David Patrick Eich of Kirkland & Ellis, that “China will have a profound...
Chengdu govenment forms RMB10 billion infra fund
Chengdu Longquanyi District Government, CDB Finance Co., Ltd. and China Development Bank's Sichuan Branch have signed a framework agreement to support a regional fund named CDB Sichuan (Longquanyi) Urban-Rural Coordinated Development Fund.
China Life to invest China Development Bank, NSSF-backed $2.2bn Suzhou RMB VC fund
China Life, the PRC's top insurance company, is to invest into the Suzhou Venture Capital Fund, an RMB-denominated vehicle in Suzhou, a significant satellite city of Shanghai, set up by the China Development Bank (CDB) and the National Social Security...
Chengde Deyuan Hunan High-Tech Venture fund launched for Hunan
Changde Deyuan Hunan High-Tech Venture Capital Co., Ltd. has launched a RMB160 million ($23.6 million) RMB VC fund in partnership with Changde Municipal People's Government, Hunan Deyuan Investment and Beijing Huahui Hengye Investment.
Jinqiao launches first Inner Mongolian fund
Jinqiao Venture Capital Fund, a Chinese VC firm, has committed RMB60 million ($8.8 million) to a vehicle which is the first private equity fund in Inner Mongolia, targeting to raise up to RMB200 billion ($29.4 million).
Industry Q&A: TPG Capital
Off the back of the announcement of two RMB funds – the TPG China Partners I fund and the TPG Western China Growth Partners I, both targeting RMB5 million ($735.5. million) – AVCJ sat down with the firm’s Founding Partner James Coulter (pictured),...
China onwards ever upwards
The latest news on plans by the PRC insurance regulator, the China Insurance Regulatory Commission (CIRC), to clear the way for the country’s insurers to invest up to RMB122 billion ($33.2 billion) into private equity and direct investments appears...
Shanghai Minfu forms PRC/Taiwan/Japan billion fund
Shanghai Minfu Equity Investment Management Co., a JV founded by Shanghai International Group Asset Management, a Shanghai city government-related financial institution, Uni-President Group, Taiwan’s largest food manufacturing and logistics company,...
TPG announces Chongqing RMB fund
Following yesterday's announcement by TPG Capital of the formal launch of a Shanghai-domiciled RMB fund, the firm has now announced a similarly sized RMB5 billion ($735.5 million) RMB vehicle in Chongqing, in partnership with the Chongqing Municipal...
TPG's first RMB fund targets RMB5 billion
US private equity giant TPG Capital has established its maiden RMB-denominated fund, TPG China Partners I, in agreement with the government of Pudong New Area in Shanghai Municipality, with a target size of RMB5 billion ($735.5 million).
China Mining United Fund seeks further capital
The China Mining United Fund, which operates an RMB-denominated fund to invest in mining-related businesses, is slated to raise RMB3-5 billion ($442-736 million) for gold, iron ore and other metals projects.
New York Pacific Capital to raise RMB1 billion fund
US merchant banking player New York Pacific Capital is to raise an RMB1 billion ($147.6 million) private equity fund based out of Beijing, focused on investments into high-growth PRC companies across the healthcare, clean tech, education, culture and...
China's Fujian province forms Taiwan-linked fund
Huifu Industrial Investment Fund Management Co., Ltd., the first cross-Straits industrial investment fund to be established in China, has been launched in Fuzhou with a target size of between RMB2-5billion ($295-738 million) in its first phase.
SPECIAL ANNOUNCEMENT: Shanghai International Private Equity Forum
AVCJ has joined the Shanghai Private Equity Association, CEIBS Lujiazui International Finance Research Center, Shanghai Huangpu District Peoples Government, and the Institute of Finance and Banking of the Chinese Academy of Social Sciences as a co-organizer...
Carlyle makes first close on RMB fund
The Carlyle Group has announced a first close of RMB2.4 billion ($350 million) for its first RMB-denominated fund which targets to raise RMB5 billion ($740 million).
Blackstone slates final close for debut RMB fund
One of the largest global private equity players, the Blackstone Group, expects the final close at RMB5 billion ($737.8 million) for its first RMB-denominated fund by September.
It's a wrap
In the course of several unrelated discussions on secondaries last week, I was reminded of one of the more curious byways of private equity fund investment: the wrap.
Industry Q&A: Hu Zhanghong, CEO, CCB International
AVCJ spoke to Hu Zhanghong, CEO of CCB International, the asset management and private equity arm of the major PRC banking group, who discussed opportunities in Greater China and the role of RMB funds
IDG RMB fund gets NSSF backing
China's National Social Security Fund (NSSF) has agreed to invest around RMB1.2 billion ($177 million) in IDG Capital Partners' Harmony Growth Fund, an RMB-denominated fund which targets to raise RMB3.5 billion ($516 million).
DCM raises $500 for 6th fund, launches RMB vehicle, promotes Honda in Japan
DCM, the Silicon Valley-headquartered VC firm, has raised $400 million for DCM Fund VI, which focuses on investing early stage technology companies in the US, China and Japan.
Jean Eric Salata of Baring Private Equity
Founding Partner and CEO of Baring Private Equity Asia Jean Eric Salata says that the RMB fund market in China is “new, it’s nascent, it’s not proven and we haven’t even seen it yet” - but also that its emergence in China is “natural.” And...
DT Capital raises $221 million for RMB fund
DT Capital Partners, the China-focused VC firm, has reportedly raised RMB1.5 billion ($221 million) for its new RMB Fund, exceeding its original target, cited as RMB1 billion ($147 million) when the firm started to raise capital at end 2009.