www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Economy

Markets

Industries

Insights

Reports

Events

DBS private equity arm sets up $100m China fund

(Agencies)
Updated: 2009-02-26 19:21

DBS Group's private equity arm said on Thursday it set up a $100 million fund in China to invest in unlisted companies there.

Related readings:  DBS looks for fresh stimulus from China's fiscal package  China grants QDII licence to JVs of CSuisse, DBS  DBS close to yuan retail banking  DBS targets doubling of revenue from China retail banking

"The initiative reinforces DBS' commitment to expand its franchise in the country, and underscores the bank's conviction in the strength and potential of the Chinese economy," the Singapore bank said in a statement.

Melvin Teo, managing director and head of DBS Private Equity, told reporters the fund will take minority stakes in mid- to late-stage growth companies with plans to list on China's domestic A-share market.

"We find the opportunities have increased as companies look to shore up their capital in the current environment," he said.

Teo said DBS Private Equity has to date invested around S$500 million ($327 million) across Asia, generating an internal rate of return (IRR) of around 30 percent.

In the case of DBS' previous private equity investments in China, the IRR had been in line with the industry norm of over 100 percent, he said, adding future returns on the mainland will likely be lower because of increased competition.