CDIB raises $116m

The private equity arm of China Development Financial Holding Corporation has held a first close of global fund.

CDIB Capital International Corporation has held an initial close of CDIB Capital Global Opportunities Fund at $116 million, already surpassing the target of $100 million. The fund has a flexible mandate in terms of investment stage and sector and will focus on developed markets in North America and Asia Pacific, as well as making some investments in Western Europe.

Taiwan Life, Yuanta Life, Cathay Life, TransGlobe Life, NanShan Life, Shin Kong Life and China Life have each contributed capital to the first close.