China Merchants raising first foreign-asset PE fund
The private equity arm of the mainland group targets $500 million for the first close of a strategy that will largely invest in Asia and Europe. It ultimately hopes to raise $5 billion.
China Merchants Group’s private equity arm hopes ultimately to raise $5 billion for a fund that will be its first to allocate overseas, AsianInvestor has learned. Whether it does so will be conditional on the performance of its initial investments, noted sources.
Hong Kong-based China Merchants Capital (CMC) is targeting $500 million for the first close of what is only its second dollar-denominated PE strategy. It has already secured $350 million from Chinese institutions and aims…
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