CITIC Capital Reaches Final Closing For China Fund At $1.57 Billion

CITIC Capital Partners, an investment arm of CITIC Capital Holdings Ltd., has reportedly reached final closing for its China-focused private equity fund dominated in U.S. dollars at its US$1.57 billion hard cap, according to local media reports.

CITIC Capital launched a pair of China-focused private equity funds dominated in both U.S. dollar and the RMB to raise as much as US$1.5 billion in April 2016. The RMB-dominated fund is still on the road, with a fundraising target of RMB3 billion (US$439 million), according to the reports.

The newly closed vehicle plans to continue targeting buyout and privatization opportunities in the consumer and manufacturing sectors in China.

CITIC Capital closed its previous China-focused buyout fund, CITIC Capital China Partners II, L.P., at US$925 million in 2010. The firm says it currently manages US$...

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