CITIC Capital raises $2.8bn

The alternative investment management and advisory company closes its largest private equity fund to-date.

CITIC Capital has held a final close of CITIC Capital China Partners IV at $2.8 billion. The firm’s fourth China buyout fund is the largest private equity fund ever raised by the firm. It will continue to focus on healthcare, business services, consumer services, TMT and industrials.

CCCP IV was backed by new and existing investors globally, including private capital, pension funds, sovereign wealth funds, insurance companies, financial institutions, family offices and funds of funds. The Canada Pension Plan Investment Board disclosed a commitment of $260 million to the fund, while Brederode SA committed €17.1 million.