Hosen Capital holds final close of Fund III – Exclusive

China-based Hosen Fund III, which focuses on food and agribusiness, raised $440m after eight months in market.

Food and agribusiness-focused Hosen Capital has held a final close for Hosen Fund III on $440 million, Private Equity International has learned.

The fund was oversubscribed and closed after eight months in market, according to a source familiar with the matter.

Hosen is expected to make the official announcement on Friday.

PEI previously reported in December that Hosen had a target and a hard-cap of $400 million. The report said limited partners in the fund include Chinese agriculture business New Hope Group, San Francisco-based fund of funds Asia Alternatives Management, Asia and the US-focused Pavilion Capital and the World Bank’s International Finance Corporation. Existing LPs include Temasek and Mitsui.

Connecticut-based Eaton Partners served as the exclusive placement agent for this fund and Clifford Chance was the legal counsel.

Hosen, which was founded in 2010, will continue its strategy of making consumer-focused investments in food- and agribusiness-related companies in and outside of China. The firm is led by founding partners Hang Wang and Alex Tianli Zhang.

Hosen is sponsored by New Hope Group, and has raised three funds prior to Hosen III. It manages $2.31 billion in assets.

Headquartered in Beijing, it also has offices in Chengdu, Shanghai and Guangzhou.