China Media Capital raises $548m

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China Media Capital has raised $548 million to date for its CMC Capital Partners II, per a SEC filing. The Beijing-headquartered firm has set an undisclosed target and began fundraising in 2016. The SEC filing did not disclose whether the capital raise constituted a final or interim close.

Its previous fund raised $350 million in 2014.

Investors that committed to CMC Capital Partners II include the San Francisco Employees' Retirement System.

The fund will target growth equity opportunities in technology, media, and telecommunications sectors in China.