CITIC Private Equity Funds Management Co., Ltd. (“CITIC PE”), one of the leading private equity firms in China, today announced the closing of its CPEChina Fund, L.P., (the “Fund”) with US$990 million of committed capital.
The CPEChina Fund, L.P., the second fund to be launched by CITIC PE, was substantially over-subscribed, with strong demand from international investors exceeding expectations. The Fund’s investor base is comprised of 39 world-class institutions, including sovereign wealth funds, pension funds, endowments, family offices, fund of funds, banks, insurance companies and other financial institutions covering North America, Europe, the Middle East and Asia.
The Fund will focus on investments in Chinese companies, particularly those that are incorporated, are principally based, or have substantial operations in China, and will also support international acquisitions by Chinese companies. Industry areas of focus will include manufacturing and technology, financial institutions and services, energy and resources, healthcare and consumer goods and retail.
The CPEChina Fund, L.P., builds on CITIC PE’s impressive track record as one of China’s leading private equity firms. Leveraging its strong institutional background, experienced investment team, and emphasis on providing high level strategic guidance, the firm is committed to maximizing value in its portfolio companies and achieving win-win results. CITIC PE‘s dedicated portfolio management team consists of senior experts with years of experience at top firms including McKinsey & Company, GE and P&G. This seasoned team provides insight and input on areas such as strategic development, supply chain management, branding, sales and marketing, M&A and financing, helping portfolio companies overcome growth obstacles and build greater value. That approach is highlighted in the success of portfolio company Kuaijishan Shaoxing Wine Co. Ltd., which achieved annual growth