Yuan fund for Swiss PE giant
By Chen Li |
July 5, 2011, Tuesday
|
Print Edition
Print Edition
GLOBAL private markets investment manager Partners Group joined forces with the Pudong New Area government yesterday to launch the firm's first yuan-denominated fund tapping into China's nascent private equity sector.
The Shanghai-based private equity fund will focus on small to medium-sized companies with growth potential as well as plough money into other domestic PE funds, according to Zhao Peng, chief representative of Partners Group.
Speaking at the fund's launch yesterday morning, Zhao said the group will consider selling shares in the fund to outside investors depending on its future performance.
However, Zhao did not reveal how much money the fund aims to raise. Repeated calls to Zhao went unanswered.
Partners Group, headquartered in Zug, Switzerland, manages more than 20 billion euros (US$29 billion) in private equity, private debt, private real estate and private infrastructure.
The Swiss-listed firm is the latest newcomer to China's burgeoning private investment sector following global giants Blackstone, Carlyle Group LP and DT Capital Partners.
These investors have joined the city's Qualified Foreign Limited Partners pilot program which allows them to invest money from abroad in China without having to obtain permission.
Since Partners Group's yuan fund is based in Pudong, it can also apply for the pilot program which is open to all firms registered in the new area.
The Shanghai-based private equity fund will focus on small to medium-sized companies with growth potential as well as plough money into other domestic PE funds, according to Zhao Peng, chief representative of Partners Group.
Speaking at the fund's launch yesterday morning, Zhao said the group will consider selling shares in the fund to outside investors depending on its future performance.
However, Zhao did not reveal how much money the fund aims to raise. Repeated calls to Zhao went unanswered.
Partners Group, headquartered in Zug, Switzerland, manages more than 20 billion euros (US$29 billion) in private equity, private debt, private real estate and private infrastructure.
The Swiss-listed firm is the latest newcomer to China's burgeoning private investment sector following global giants Blackstone, Carlyle Group LP and DT Capital Partners.
These investors have joined the city's Qualified Foreign Limited Partners pilot program which allows them to invest money from abroad in China without having to obtain permission.
Since Partners Group's yuan fund is based in Pudong, it can also apply for the pilot program which is open to all firms registered in the new area.
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