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Mitsubishi, Creat Group form US$120m PE fund
By Lydia Chen |
July 12, 2011, Tuesday
|
Online Edition
Online Edition
CHINA'S fast growing private equity market has attracted Japan's largest general trading firm to set up a US$120 million fund with a Chinese partner -- the first between the two countries.
The Hong Kong-based MC Great Fund Management Limited will be jointly owned by Japan's Mitsubishi Corporation and Beijing-based Creat Group Co with each holding a 50 percent stake in the new fund.
The dollar-denominated fund will target opportunities for cooperation between Chinese and Japanese firms with the ultimate goal of helping them to get listed in mainland and Hong Kong stock markets.
China is the largest trading partner of Japan. Bilateral trade volume rose to US$297.8 billion last year from US$232 billion in 2009, according to the Chinese Customs.
Japan is now the third largest trading partner of China after the United States and European Union.
With over 200 bases of operations in about 80 countries worldwide, Mitsubishi plans to invest up to US$30 billion in the next three years in emerging markets such as China, India and Brazil.
China's PE market has been growing at a fast pace in recent years as the country tries to change its economic structure, shifting its emphasis from the public sector to the private sector.
The mainland's private equity market raised a record US$8.1 billion in new investments in the first half of this year, a 19 percent rise from a year ago, according to a research report by Zero2ipo Group.
The half-year performance means total funds to be raised for the whole year could exceed last year's US$11.17 billion, the report predicted.
Global buyout giants such as Blackstone, Carlyle Group L.P., DT Capital Partners and Morgan Stanley have all teamed up with their Chinese partners to tap into the burgeoning market.
The Hong Kong-based MC Great Fund Management Limited will be jointly owned by Japan's Mitsubishi Corporation and Beijing-based Creat Group Co with each holding a 50 percent stake in the new fund.
The dollar-denominated fund will target opportunities for cooperation between Chinese and Japanese firms with the ultimate goal of helping them to get listed in mainland and Hong Kong stock markets.
China is the largest trading partner of Japan. Bilateral trade volume rose to US$297.8 billion last year from US$232 billion in 2009, according to the Chinese Customs.
Japan is now the third largest trading partner of China after the United States and European Union.
With over 200 bases of operations in about 80 countries worldwide, Mitsubishi plans to invest up to US$30 billion in the next three years in emerging markets such as China, India and Brazil.
China's PE market has been growing at a fast pace in recent years as the country tries to change its economic structure, shifting its emphasis from the public sector to the private sector.
The mainland's private equity market raised a record US$8.1 billion in new investments in the first half of this year, a 19 percent rise from a year ago, according to a research report by Zero2ipo Group.
The half-year performance means total funds to be raised for the whole year could exceed last year's US$11.17 billion, the report predicted.
Global buyout giants such as Blackstone, Carlyle Group L.P., DT Capital Partners and Morgan Stanley have all teamed up with their Chinese partners to tap into the burgeoning market.
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