Jayhawk Preps 2nd China Fund For Launch Next Year

Oct 5 2007 | 11:27am ET

Prairie Village, Kansas-based Jayhawk Capital Management is currently prepping its second China-focused private equity fund. Jayhawk Private Equity Fund 2, set to be launched in the first quarter of 2008, has a target of between $250 million and $500 million, with Jayhawk’s management committing more than $25 million to the new offering.

The fund will invest in traditional private equity, private investments in public equity and small-cap public companies listed in China, Hong Kong and the U.S.

Jayhawk’s $133 million Private Equity Fund 1 is about 75% invested and should begin making distributions to investors sometime in early 2008, according to Rowena Scherer of Jayhawk.

The new offering has a six-year investment period and charges a 2.5% management fee. Its minimum investment requirement is $1 million for individuals and $5 million for institutions.

The firm also manages a flagship $560 million China-focused hedge fund dubbed the Jayhawk China Fund, which started trading in January 1997 and moved to a long/short equity strategy in 1999. The fund has compounded annual return of 26.08% since January 1999 through the end of August.

Scherer said the firm will hold a soft close on its flagship hedge fund by year-end.

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