Billions in the pipeline for China PE funds

A mainland vehicle was the biggest PE fund-of-funds to close on a global basis in  the first half of the year at Rmb15 billion ($2.45 billion), and there are indications that more large domestic, renminbi-denominated vehicles are in the market to raise capital. A final close was held in February for Guochuang Kaiyuan Fund of Funds, which was raised by CDB Capital – the fund management unit of China Development Bank. The lender is one of three state-owned lenders which support gove…