PE fund to help Japan firms invest in China
By Chen Li |
July 13, 2011, Wednesday
|
Print Edition
Print Edition
JAPAN'S largest general trading firm will team up with a Chinese partner to create a US$120 million private-equity fund helping Japanese firms to enter China - the latest major deal to hit China's booming private investment market.
The Hong Kong-based MC Great Fund Management Ltd will be jointly owned by Japan's Mitsubishi Corp and Beijing-based Creat Group Co, with each taking a 50 percent stake in the fund.
The dollar-denominated fund will target venture cooperations between Chinese and Japanese firms with the ultimate goal of helping them list on Chinese mainland and Hong Kong stock markets.
With operations in about 80 countries worldwide, Mitsubishi plans to invest up to US$30 billion over the next three years with emerging markets such as China, India and Brazil.
Founded in 1992, Creat Group is one of China's most established equity investment groups. At the end of 2009 it had total assets under management of over 6 billion yuan (US$927 million).
China is Japan's largest trading partner. Bilateral trade between the two countries rose to US$297.8 billion last year from US$232 billion a year ago, according to China's Customs Office.
The Hong Kong-based MC Great Fund Management Ltd will be jointly owned by Japan's Mitsubishi Corp and Beijing-based Creat Group Co, with each taking a 50 percent stake in the fund.
The dollar-denominated fund will target venture cooperations between Chinese and Japanese firms with the ultimate goal of helping them list on Chinese mainland and Hong Kong stock markets.
With operations in about 80 countries worldwide, Mitsubishi plans to invest up to US$30 billion over the next three years with emerging markets such as China, India and Brazil.
Founded in 1992, Creat Group is one of China's most established equity investment groups. At the end of 2009 it had total assets under management of over 6 billion yuan (US$927 million).
China is Japan's largest trading partner. Bilateral trade between the two countries rose to US$297.8 billion last year from US$232 billion a year ago, according to China's Customs Office.
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