Shanghai International Group
Based: Shanghai, China
PEI 300 rank: 98
Five-year fundraising total: $3.97bn
Shanghai International Group made its debut on the PEI 300 in 2012, as the fifth highest-placed Asian-headquartered firm. Founded in 2000, SIG invests particularly in the healthcare, industrial and technology sectors, and has the ambitious goal of becoming “the core of the financial industry” in Shanghai and China. It has closed four funds in the past two years, at least three of which have been backed by the central government or the Shanghai Municipal Government. Its most recent vehicle, Sailing Capital International, held a first close on RMB 12 billion (€1.5 billion; $1.9 billion) in February 2012.
SBI Asset Management
Based: Tokyo, Japan
PEI 300 rank: 142
Five-year fundraising total: $2.52bn
SBI Asset Management is a publicly-listed Tokyo-based firm that raises RMB funds. Its latest is an RMB400 million (€48.8 million; $63.4 million) growth capital fund dedicated to media, telecommunications and technology in Greater China. The firm also launched a Japan-focused vehicle last year targeting JPY6 billion for venture capital opportunities in the renewable and clean technology sectors, which according to Private Equity International’s data service has so far raised JPY2 billion.
Tencent Holdings Limited
Based: Shenzhen, China
PEI 300 rank: 154
Five-year fundraising total: $2.43 bn
Tencent didn’t begin raising private equity funds until 2008. But since then it’s been busy, delegating five funds to outside managers, and managing one itself. The funds have all been focused on Asia, although not solely on China (two were in Korean Won); the most recent, launched last June, is targeting RMB 10 billion.
Tencent is China’s largest internet portal, and has developed some of the country’s most popular social media sites, such as QQ. Its name and relationships have clearly been crucial to its fundraising success.
Based: Hong Kong
PEI 300 rank: 161
Five-year fundraising total: $2.3bn
RRJ focuses on buyouts and growth capital deals in China and Southeast Asia, with deal sizes from $50 million to $3 billion. In September, it held a $2.5 billion first close on its second vehicle, which has a target of $4 billion.
Its success is based on its networks. “They are essentially an offshoot of the senior levels at Temasek that have significant relationships, which they leverage for deals,” an industry source said. Temasek has been an LP in the RRJ funds and anchored the firm’s latest vehicle with “the biggest ever LP investment globally into a single fund,” according to one LP source.
Based: Hong Kong
PEI 300 rank: 167
Five-year fundraising total: $2.24bn
The investment arm of the China Construction Bank, CCBI has launched a round of private equity vehicles. In April 2011, the firm raised RMB2 billion (€247 million; $318 million) for a cultural fund targeting China’s publishing, film and television production industries. Simultaneously, it’s raising two funds targeting RMB20 billion and RMB10 billion to invest in the aviation industry. CCBI is one of 22 funds registered with China’s National Development and Reform Commission.