JPMorgan unit eyes M&As
By Lydia Chen |
June 24, 2011, Friday
|
Print Edition
Print Edition
A GLOBAL private-equity investment unit of JPMorgan Chase & Co has agreed to invest US$200 million over the next two to three years in its tie-up with Beijing Capital Group to look for merger and acquisition opportunities.
The deal, signed between JPMorgan's One Equity Partner and Beijing Capital Venture Capital Co, a subsidiary under the state-owned group, will see JPMorgan invest US$30 million in the fund's portfolios while the remainder will target M&A opportunities in China.
Meanwhile, the Beijing Capital Group also set up its first joint venture fund, aiming to raise US$150 million.
Its foreign partners include fund of funds from regions such as Latin America, the Middle East and Hong Kong, according to a report by China Venture, a leading investment research institute.
The Beijing-registered fund has already submitted an application to the Beijing city government for its Qualified Foreign Limited Partners program.
The QFLP is a program that will allow overseas yuan-denominated PE funds to invest money raised abroad in China without requiring permission from the foreign exchange regulator.
The deal, signed between JPMorgan's One Equity Partner and Beijing Capital Venture Capital Co, a subsidiary under the state-owned group, will see JPMorgan invest US$30 million in the fund's portfolios while the remainder will target M&A opportunities in China.
Meanwhile, the Beijing Capital Group also set up its first joint venture fund, aiming to raise US$150 million.
Its foreign partners include fund of funds from regions such as Latin America, the Middle East and Hong Kong, according to a report by China Venture, a leading investment research institute.
The Beijing-registered fund has already submitted an application to the Beijing city government for its Qualified Foreign Limited Partners program.
The QFLP is a program that will allow overseas yuan-denominated PE funds to invest money raised abroad in China without requiring permission from the foreign exchange regulator.
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