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Hong Kong-based China Everbright Limited held a $264
million first close on its CEL Global Investment Fund with the plan to invest in US and
European companies targeting China, as reported by Private Equity International.
According to PEI
data, the share of China-focused capital raised by overseas fund managers
increased from 2012 to 2015, followed by a significant fall in the first eight
months of this year.
However, that seems likely to change. The China Securities
Regulatory Commission has announced plans to allow foreign enterprises to raise
money from domestic investors and strengthen their foothold in Chinese capital
markets. It is part of a bigger move by Chinese regulators to give foreign
firms greater access to its financial
Funds launched in 2016, such
as Warburg Pincus’s Private Equity China Fund and Hong Kong-based CITIC
Capital’s China Partners III, targeting $2 billion and $1.5 billion
respectively, suggest that the new regulations are already taking effect.
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