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The Hong Kong-based firm’s investments in World Gym Taiwan and L&P Cosmetic will back the companies’ regional expansion plans.
The Chinese insurer will target financial and healthcare technology investments globally.
The Chinese firms have pledged to revive sales of the Shenzhen-based shoe company, which has been battered by growing e-commerce platforms in the country.
The investment marks CPPIB’s first direct deal in private education.
View the latest capital raises
The mid-market firm secured commitments from new investors including pension funds, endowments and consumer goods companies.
The New York-based firm has set up in Shanghai and registered with China’s asset management association so it can raise money from mainland Chinese high net worth individuals and institutional investors.
Hong Kong-based Baring Private Equity Asia has sold its 40 percent stake in the company to US packaged goods company Post Holdings.
Private equity activities in China and Hong Kong had a slow start in 2017 amid investor concerns over China’s weakening economy and tighter rules on capital outflow.
Capital for the investment comes from China’s $20bn national integrated circuit fund, which was established in 2014 to develop the country’s semiconductor industry.
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