citic-closes-425-million-private-equity-fund

Citic closes $425 million private equity fund

Citic Capital Partners closes its maiden China private equity fund raising $425 million, significantly more than its target of $250 million.
Citic Capital Partners closed its maiden China private equity fund raising $425 million against a target fund raising of $250 million, confirming once again that investors in private equity are very bullish on opportunities in China.

ôInvestors in the fund were evenly spread across five main geographies Japan, the US, Europe, Southeast Asia and the Gulf,ö says Brian Doyle, managing partner, Citic Capital partners. ôThe tenure of the fund and the holding period are pretty standard and in line with industry practice,ö says Doyle.

The fund will concentrate on buy-out and privatisation opportunities in established and profitable Chinese companies. The focus will be on companies in the consumer products and manufacturing sectors. Doyle says...
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