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CITIC Capital investment fund raises US$425m
(Shanghai Daily)
Updated: 2007-04-20 14:03  CITIC Capital Partners, the private equity arm of China's biggest State-owned investment firm, has closed its first China investment fund, the company said in a statement yesterday.
CITIC Capital China Partners LP, a privatization and buyout fund, raised US$425 million, the company said. The fund will focus on investments in the consumer products and manufacturing sectors. In 2005, CITIC Capital Partners led the US$258 million buyout of Harbin Pharmaceutical Group Co Ltd, China's second-biggest drug maker by market value, together with New York-based Warburg Pincus LLC. CITIC Capital Partners said it manages US$750 million. It has launched two other buyout funds: CITIC Japan Partners LP, a Japanese middle-market fund and CITIC Equity Partners II LP, a US middle-market fund . (For more biz stories, please visit Industries)
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