China Media Capital raises $600m

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China Media Capital has raised $600 million to date for its CMC Capital Partners II, hitting the fund’s hard-cap.

The Beijing-headquartered firm had set a $500 million target and began fundraising in 2016

The fund’s capital mostly comes from sovereign wealth funds, US pension funds and funds of funds. One such investor is the San Francisco Employees’ Retirement System, which committed $100 million to the fund.

The fund will target growth opportunities in TMT sector in China.