CITIC Capital raises $925m for second Chinese buy-out fund

CITIC Capital China Partners II, which will target buy-out and privatisation investments in Chinese companies benefiting from the long-term development of the Chinese domestic economy, particularly in the consumer products and manufacturing sector, intended to raise $750m.

Yichen Zhang, CITIC Capital’s CEO, said, "We are delighted by the strong support we have received from both existing and new investors. We are confident that our unique combination of top-tier investment professionals coupled with the unparalleled support of our sponsors will continue to produce exceptional investment opportunities for CCCP II.”

Founded in 2002, CITIC manages over $3bn of capital from its offices in Hong Kong, Shanghai, Beijing, Tokyo and New York.

The private equity house is owned by China Investment Corporation, China’s sovereign wealth fund, CITIC International Financial Holdings and Hong Kong-listed CITIC Pacific. Both CIFH and CITIC Pacific are part of CITIC Group, the largest financial conglomerate in China.

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