Chinese Firm Plans US$1 Billion P.E. Fund

May 20 2013 | 12:23pm ET

China's Fosun International hopes to raise US$1 billion for its second dollar-denominated private-equity fund.

The new China Momentum Fund will invest in foreign companies seeking to expand in China. There will be a particular focus on Europe, in an effort to profit from depressed prices due to the economic crisis.

China Momentum will hold its first close next month at about US$300 million. Among the investors is Prudential Financial, Fosun's partner on its last fund, which raised US$600 million. The new fund will have priority over Fosun's existing funds in selecting investments.

Fosun aims to have only about 10 investors in the new fund, primarily pension funds, high-net worth investors and institutional investors from outside China.


In Depth

Q&A: SkyBridge’s Anthony Scaramucci Readies For Wall Street Week Debut

Apr 16 2015 | 12:56pm ET

Anthony Scaramucci, founder and managing director of asset management firm SkyBridge...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note