Chinese Outbound PE Fund Gets Okay

Chinese buyout shop A-CAPITAL has gotten the go-ahead from the Beijing municipal government to set up what it says is China’s first yuan-denominated outbound private equity fund, Reuters reported. The new fund will jointly invest with Chinese groups in European companies with an emphasis on technology, major brands, and carving out new markets, Reuters wrote. The firm, based in Beijing, already has a euro-denominated fund focused on China-Europe investments. The firm hopes to have a total of 3 billion yuan ($456 million) to invest.

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