Tuesday, 3 March 2015
Last updated 1 hour ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…