CDB Capital Aims to Raise $9B Fund-of-Funds

CDB Capital, a unit of China Development Bank, plans to launch a 60 billion yuan ($9 billion) fund-of-funds for private equity and venture capital, Reuters reported. The fund-of-funds would allot two-thirds of its capital for private equity and the remaining third for venture capital deals. CDB aims to raise an initial 15 billion yuan this year, with a final close by the end of 2011, Reuters said.

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