A unit of CITIC Group plans to raise RMB6 billion (US$874 million) for a number of educational industry investment funds to invest in education companies in China, according to a company announcement.
CITIC Securities Merger and Acquisition Industry Investment Funds Management Co., an investment subsidiary under China's largest financial services group CITIC, will be leading the effort.
The funds include a China STEM education industry investment fund. STEM refers to education in science, technology, engineering and mathematics. The STEM vehicle will introduce the so-called STEM courses to China, as well as boost the investment and acquisition of excellent Chinese STEM schools and advanced educational curriculum.
Two more funds, namely ...
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