China Renaissance Group raises $944m

The Beijing-based asset manager continues the new economy investments with its third CNY-denominated growth fund.

China Renaissance Group has corralled 6.5 billion yuan ($944.3 million; €847 million) for its Huaxing Growth Capital RMB Fund III. Fund III will target opportunities in the consumer and technology sectors.

National Council for Social Security Fund of China is a major investor in the fund.